What to do when a VACU account holder dies

On the death of an owner the account belongs to the surviving owner or owners as provided by law. It continues to secure any obligations of the deceased owner to Virginia Credit Union that it secured before the death.^{1, 2, 3}

On the death of the last surviving trustee or co-trustee of a "POD Trust account", Virginia Credit Union pays all funds in equal amounts to, or on behalf of, any living beneficiary named on a document it has approved, such as an account signature card.^{1, 2, 3}

An estate account can be opened as an Entity account. For estates, Virginia Credit Union requires the court qualification document and a copy of the death certificate.^{1, 2, 3}

Virginia Credit Union may pay checks or drafts on a deceased member's account if the member authorized them, they are presented within 10 days after the date of death, and no valid stop payment order has been placed by a person claiming an interest in the account.^{1, 2, 3}

Protected funds deposited after the death are placed on hold until the originating organization reclaims them or until written notification to return them is received.^{1, 2, 3}

A power of attorney Virginia Credit Union has accepted is binding until it accepts written instructions to the contrary or upon proper notice of the principal's death.^{1, 2, 3}