Estate planning and settlement at VACU

VACU offers 12 accounts, each with its own rules for what happens when a member dies. As a membership-based credit union, VACU field of membership: employees and retirees of any Commonwealth of Virginia state agency or department, or of any Virginia county, city, town or other political subdivision; individuals who live, work, worship, volunteer or attend school in listed Virginia localities (including the Cities of Richmond, Petersburg, Hopewell, Fredericksburg, Radford, Lynchburg, Roanoke and Salem, and Franklin, Montgomery, Buckingham, Cumberland, Botetourt, Campbell, Nottoway, Prince Edward and Pittsylvania Counties); employees, retirees and enrolled students of any Virginia state-funded college or university and of Virginia Union University, Randolph-Macon College, Liberty University and the University of Richmond; and immediate family and household members of members (parents, spouses, children, siblings, grandparents, grandchildren) regardless of where they live. Applicants who do not otherwise qualify can join through the American Consumer Council, whose membership fee VACU pays. A $5 member share deposit establishes membership. Some transfer automatically to a named beneficiary, others can be held in a trust, and a few may require probate if no plan is in place.

To add or update beneficiaries at VACU, account holders work through direct contact with the institution.