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Trust Accounts

Revocable and Irrevocable Trust relationships available

  • Features
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Trust Accounts

  • Set up DCU accounts to support a trust agreement
  • Requires a legal trust agreement
  • Trustors or beneficiaries must be DCU members
  • Any type of DCU savings or checking account may be used
  • Federally insured to $250,000 per beneficiary by NCUA

Trust Accounts

  • Set up DCU accounts to support a trust agreement – A Trust is a fiduciary relationship where one person (the Trustor) holds the title to a property (the trust estate or trust property) for the benefit of another (the beneficiary). A Trustor, who also owns the funds in this account, establishes the Trust.
  • Requires a legal trust agreement – The Trust Account is established by a Trustee(s) who may or may not also be a Trustor(s). Legal documentation, the Trust Instrument, must exist to establish a Trust Account.
  • Trustors or beneficiaries must be DCU members
  • Any type of DCU savings or checking account may be used
  • Federally insured to $250,000 per beneficiary by NCUA – This account is federally insured. Each beneficiary's interest is insured separately from other accounts held by the Trustor, the Trustee, or the beneficiary, up to $250,000. When a beneficiary has an interest in more than one Trust set up by the same Trustor, the funds are added together and the beneficiary's aggregate insurance is a maximum of $250,000.

More information about NCUA insurance.

More information about Trust Accounts at DCU

  • The Trustor(s) of a revocable trust must be a DCU member.
  • The Trustor(s) or Beneficiary(ies) of an irrevocable trust must also be a DCU member.
  • A Trust Account is opened using the Trust's Tax ID Number.
  • Any DCU Savings or Checking Account can be set up as a Trust Account.
  • A DCU Debit Card or DCU ATM Card can be issued in the Trustee's name only.
  • Trustees have access to funds during the life of the Trust. The beneficiary has access to the funds, through the Trustee, only upon the death of the Trustors.

DCU cannot provide legal, tax, or estate planning advice. We suggest you discuss your particular situation with a tax consultant or advisor.

Easy Ways To Open Trust Accounts

  1. By Mail– Fill out a Trust Application and Disclosure (.pdf format) to establish a new Trust account along with DCU membership
  2. Visit a DCU Branch
    A Member Service Representative will assist you and be able to answer all your questions.