For this type of account, funds are placed "In Trust For" a designated beneficiary. In the event of the Member’s death, funds revert to the beneficiary.
Please note that the Member is the owner of the funds, and their social security number is used for tax purposes. The Member is also the Trustee of the funds, and is the only one who can withdraw funds — until his or her death.
Unlimited deposits/withdrawals
Interested calculated daily, credited monthly
Quarterly statements by mail or web*
To open a Trust Savings Account, please call 800 457 8058 opt. 3.
* Monthly with a companion checking account, semi-annually for inactive accounts.
Recommended for:
Members who want to ensure that their loved ones are taken care of in case of their passing.