East Coast Credit Union is pleased to offer this financial planning account to our members. It is an easy way to ensure your money is kept safe for your designated beneficiary.

Trust Account Designations

A trust account designation is an instruction to the Credit Union that:

• during your lifetime you may withdraw the money in the account;
• by written direction to the Credit Union, you may change the beneficiary;
• upon your death the money remaining in the account will belong to the beneficiary, and the money will not be inherited by your heirs or be controlled by your will.

Any trust beneficiary designation shall not apply to Individual Retirement Accounts (IRAs), which are governed by a separate beneficiary designation. We are not obligated to notify any beneficiary of the existence of any account or the vesting of the beneficiary's interest in any account, except as otherwise provided by law.