Share Beneficiaries

Protecting Your Legacy

Introduction

For peace of mind that your savings can pass to your loved ones, we encourage you to designate beneficiaries on your eligible shares. 

Whether it’s at your local branch or through our Contact Center, you can designate up to five beneficiaries on each of your shares at Visions – from savings accounts to checking to share certificates and more. For each beneficiary, you’ll need to provide:

• First and last name
• Social Security number (SSN) – or acceptable alternative
• Date of birth – they can be any age
• Allocated percentage – must add up to 100%

Members have the flexibility to add or remove beneficiaries and change their allocations at any time. To discuss the beneficiaries on your account, visit your local office or give us a call at 800.242.2120. 

What You Should Know About Beneficiaries:

1. Beneficiaries do not need to be members of Visions Federal Credit Union.
    
2. Beneficiaries inherit the designated allocation of the decedent’s shares that have no surviving joint owners. In the event of the primary owner’s passing, funds will be disbursed and transferred to the current, surviving joint owner upon request.
    
3. Your beneficiaries do not have access to your Visions accounts, transactions, balances, or any other financial information.
    
4. Your beneficiaries do not receive any notification from Visions that they’re named on your account. Beneficiaries would only be contacted regarding your account if there are no surviving joint owners after a Death Claim has been verified.

Let’s start planning for what’s next – together. Stop by your local office or give us a call at 800.242.2120 to get started.

Special Account Types and Financial Planning

Custodian Accounts and More – In addition to share beneficiaries, we offer specialized accounts such as Representative Payee, Custodian (or UTMA) Accounts, and more. Speak with a representative at your local branch or 800.242.2120 for more information.

Long Term Planning – Want to discuss a formal estate plan, revocable living trust, or investment strategy for your entrusted funds? We'd love to explore your unique goals, financial plan, and legacy. Set up a free consultation with our Visions Wealth Management team to get started.

Additional Information

• Eligible Shares: Which types of shares are eligible for beneficiaries?

  Members can add up to five beneficiaries for each of the following share types:

  • Primary Savings
  • Share Money Manager
  • Flex Money Market
  • Flex Checking
  • Flex Checking Plus
  • Share Certificates
  • Lucky Savers
  • Summer Savers
  • Holiday Club
    ...and more.
     

  Must be a qualifying account type, exclusions apply, and must be at least 13 years of age to designate a beneficiary. Ask for details. 

  Looking for another type of beneficiary?
  Talk to us about your financial goals. We can assist with various types of beneficiary accounts as well as estate planning. To explore your options, stop by your local branch or give us a call at 800.242.2120. 
   

• No SSN: How can I add a beneficiary that has no Social Security number?

  To designate a beneficiary that doesn’t have an SSN, please call us at 800.242.2120 or visit your local branch to discuss an acceptable alternative for identification. For example, you may choose to include an international relative, charitable organization, or estate as a beneficiary. We’re happy to help.
   

• Share Insurance: Will adding a beneficiary increase my NCUA share insurance coverage?

  You can maximize your NCUA share insurance coverage above the $250,000 standard coverage limit by structuring your deposit shares using joint ownership assignments and/or by adding beneficiaries to your shares.

  Learn more about NCUA share insurance coverage