How to name beneficiaries and fund a trust at UFCU
Covers 7 deposit, 3 retirement, and 1 investment accounts — beneficiaries must be updated in-branch
UFCU, PO Box 9350, Austin, TX 78766-9350
UFCU, PO Box 9350, Austin, TX 78766-9350
Member Services (Survivorship)
University Federal Credit Union, PO Box 9350, Austin, TX 78766-9350
Estate planning at UFCU means getting each account set up so it transfers automatically when you die—either through a POD beneficiary or trust ownership. Because UFCU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Without one of these in place, accounts may require probate before your family can access the funds.
UFCU has 11 product types, and the estate transfer rules differ across them. Some support Payable on Death (POD) designations, some can be retitled into a trust, and others will require probate if nothing is set up. Each is covered below.
- Bring government-issued photo ID
- Request to add or update POD (Payable on Death) beneficiary designation
- Provide beneficiary legal name, address, date of birth, and Social Security number
- For trusts as beneficiary: provide trust name, date established, and EIN
- Note that UFCU splits POD proceeds EQUALLY among surviving beneficiaries - the Membership Agreement does not allow custom percentage allocations on deposit accounts
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- POD designation available for all deposit accounts (checking, savings, money market, certificates)
- The Membership Agreement distributes POD sums EQUALLY among surviving beneficiaries, and no beneficiary takes a deceased co-beneficiary's share - there is no per-stirpes or custom-percentage option on deposit accounts
- A POD beneficiary may not also be an owner of the account unless the arrangement falls under Section 752.052 of the Texas Estates Code (the statutory durable power of attorney provision)
- An agent acting under a power of attorney may not name themselves as POD beneficiary on the principal's behalf; the agent must have been named POD beneficiary before being appointed agent, or be named by another account owner
- Any beneficiary change requires written notice to UFCU on a UFCU-approved form; the account owner's selection of survivorship or POD is recorded on the UFCU Account Card
- POD designations do NOT carry over to IRAs - IRAs are governed by a separate account agreement and a separate IRA beneficiary designation form
- Investment account beneficiaries managed through UFCU Investment Services (LPL Financial)
- Beneficiary does not need to be present or be a UFCU member
Sources
Data sourced from UFCU primary sources (18 pages reviewed). How we research.
Download these UFCU instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against UFCU primary sources. Bring it to the branch or keep it beside the phone.
UFCU, PO Box 9350, Austin, TX 78766-9350
UFCU, PO Box 9350, Austin, TX 78766-9350
Member Services (Survivorship)
University Federal Credit Union, PO Box 9350, Austin, TX 78766-9350
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