For members who have special legal responsibilities
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Established by a Fiduciary and held by an individual
- Fiduciary must be eligible for DCU membership
- Requires a legal documentation
- Any DCU Savings or Checking Account can be set up as a Fiduciary Account
- Federally insured to $250,000 by NCUA
This type of account is useful for members when they have special legal responsibilities. The account is established by a Fiduciary. The account is held by an individual usually acting as Executor, Administrator, or Guardian.
- The Fiduciary must be eligible for DCU membership
- Legal documentation must be furnished to DCU before we can open the account.
- A Fiduciary Account is opened using the Social Security Number of the individual who owns the funds or the Tax ID Number of the estate.
- Any type of DCU savings or checking account can be set up as a Fiduciary Account.
- A DCU Debit Card or DCU ATM Card can be issued in the Fiduciary's name only.
- Loans are not available on a Fiduciary Account and funds cannot be used as collateral for loans
This account is federally insured. Each beneficiary's interest is insured separately from other accounts held by the Ward or Fiduciary, if applicable, up to $250,000. Funds held in multiple accounts in the name of a Guardian for the benefit of a Ward are added together and insured up to $250,000.
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 a Fiduciary Account
- Custodial, Totten, and Fiduciary Account Membership Application (.pdf format) – to establish a new Custodial, Totten and/or Fiduciary Account along with DCU Membership
- Checking and Savings Application (.pdf format) – Open checking and savings accounts
- Certificate Application and Disclosure (.pdf format) – Open new certificate accounts
- StreetWise Guide to NCUA Insurance – Trust accounts receive special federal insurance treatment. Learn the details and how you can maximize coverage.
- Truth in Savings Disclosure (.pdf format) – Covers disclosures related to all DCU savings and checking accounts. DCU's Funds Availability Policies are covered here.
- Schedule of Fees