How to designate beneficiaries at Visions FCU
Beneficiaries are managed in branch or by phone
The goal with your Visions FCU accounts is to make sure every account has a transfer mechanism in place—either a POD beneficiary designation or trust ownership. Because Visions FCU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts without either one pass through the estate, by probate or the state's small-estate procedure.
Each of Visions FCU's 23 accounts has different rules for how it transfers at death. The sections below explain the options for each.
- Visit a local Visions office or call the Contact Center at 800.242.2120.
- First and last name.
- Social Security number, or an acceptable alternative (for a beneficiary with no SSN, call 800.242.2120 or visit a branch).
- Date of birth (beneficiaries can be any age).
- Allocated percentage; allocations must add up to 100%.
- Visit a local Visions office or call the Contact Center at 800.242.2120.
- First and last name.
- Social Security number, or an acceptable alternative (for a beneficiary with no SSN, call 800.242.2120 or visit a branch).
- Date of birth (beneficiaries can be any age).
- Allocated percentage; allocations must add up to 100%.
Required Documents
- Beneficiary's first and last name
- Beneficiary's Social Security number. An acceptable alternative is taken for a beneficiary with no SSN; call the Contact Center or visit a branch
- Beneficiary's date of birth. Beneficiaries can be any age
- Allocated percentage for each beneficiary. Allocations must add up to 100%
- Visit a local Visions office or call the Contact Center at 800.242.2120.
- First and last name.
- Social Security number, or an acceptable alternative (for a beneficiary with no SSN, call 800.242.2120 or visit a branch).
- Date of birth (beneficiaries can be any age).
- Allocated percentage; allocations must add up to 100%.
- Visit a local Visions office or call the Contact Center at 800.242.2120.
- First and last name.
- Social Security number, or an acceptable alternative (for a beneficiary with no SSN, call 800.242.2120 or visit a branch).
- Date of birth (beneficiaries can be any age).
- Allocated percentage; allocations must add up to 100%.
Required Documents
- Beneficiary's first and last name
- Beneficiary's Social Security number. An acceptable alternative is taken for a beneficiary with no SSN; call the Contact Center or visit a branch
- Beneficiary's date of birth. Beneficiaries can be any age
- Allocated percentage for each beneficiary. Allocations must add up to 100%
What Visions FCU says about beneficiaries and trusts
Each section is Visions FCU's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary1
- Payable-on-death account
Eligible shares include Primary Savings, Share Money Manager, Flex Money Market, Flex Checking, Flex Checking Plus, Share Certificates, Lucky Savers, Summer Savers and Holiday Club; exclusions apply.1
Who can be named4
- A minor
Beneficiaries can be any age.1
- Someone outside the United States
Visions names an international relative as an example of a beneficiary without a Social Security number.1
- A charity or nonprofit
Visions names a charitable organization as an example of a beneficiary without a Social Security number.1
- The estate
Visions names an estate as an example of a beneficiary without a Social Security number.1
How many beneficiaries, and how shares are split
- All accounts
Up to five beneficiaries can be designated on each eligible share. Each beneficiary has an allocated percentage, and allocations must add up to 100%.1
What a designation takes to be effective
- All accounts
The account owner must be at least 13 years of age to designate a beneficiary.1
What Visions FCU's agreement says about beneficiaries4
- Membership
Beneficiaries do not need to be Visions members.1
- Changing or revoking a designation
Members can add or remove beneficiaries and change allocations at any time.1
- Who can see the designation
Beneficiaries are not notified that they are named and have no access to the account.1
- Joint accounts
Beneficiaries are contacted only if there are no surviving joint owners after a death claim has been verified. They inherit their designated allocation of the decedent's shares that have no surviving joint owners.1
Which accounts a trust can hold1
- Trust account
Visions' own trust-style deposit products are the Totten Trust (beneficiary) account and the Funeral Trust account; both are revocable. Visions notes that most of its trust products are limited to savings accounts.2
Accounts handled elsewhere1
- Visions Estate and Trust Services
Trustee, co-trustee, investment management and trust transfer services, in partnership with MEMBERS Trust Company3, 4
Phone: 1-607-340-2089
Email: Trust@visionsfcu.org
Not in Visions FCU's published guidance2
- A procedure for holding an account in a trust, for deposit accounts
- Which trust documents it accepts
Sources
Data sourced from Visions FCU primary sources (22 pages reviewed). How we research.
Download these Visions FCU instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Visions FCU primary sources. Bring it to the branch or keep it beside the phone.
Visions FCU estate support
Visions Estate and Trust Services (with MEMBERS Trust Company)
Phone
MEMBERS Trust Company (Tampa corporate office)
Website
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