Does Delta Community offer Trust Accounts?

Delta Community Credit Union offers formal Revocable Trust Accounts for our members’ estate planning needs. A formal Revocable Trust is a Living Trust created within a written, notarized document that can be modified or revoked by the Grantor, or person who establishes the Trust and transfers property to it. The assets registered in the name of the formal Trust pass directly to the beneficiaries named in a formal, written Trust document. At this time, Delta Community Credit Union does not offer Corporate Trustee services, Trust Accounts specific to businesses nor corporations, nor Irrevocable Trust accounts..

To be eligible to open a formal Revocable Trust Account with Delta Community Credit Union, the following requirements must be met:

• The street address used for Trust tax filing must be within our field of membership and specifically within one of the Georgia counties that we service. PO Box addresses are not eligible.
• If the Trust has multiple Trustees, all Trustees must have explicit authority in the formal written Trust document and certificate of Trust to act independently.
• All Trust Grantor(s) must have a personal membership in good standing at Delta Community at the time of formal Revocable Trust Account opening and maintain their personal membership for the entirety of the Revocable Trust Account term
• Grantor(s) who are non-members or existing Joint Owners will be required to open a personal membership and maintain their personal membership for the entirety of the Revocable Trust Account term.
  
  • This is required for the formal Revocable Trust Account to be eligible for National Credit Union Administration (NCUA) share insurance coverage.

Required documents to open a formal Revocable Trust Account with Delta Community Credit Union:

• Certificate of Trust or pages of the formal Trust document that provide:
  • Trust name
  • Notarized signatures of individual(s) who established the Trust (Grantors & Trustees)
  • Grantor(s) and Trustee name(s)
  • Copy of death certificate of any deceased Grantor or Trustee
    • Must provide an updated Certificate of Trust if a Grantor has passed away.
  • Amendments to the original Trust Agreement
• For Grantor(s) and Trustee(s) of the Trust, a valid, government-issued photo ID is required.
  • If the address on the ID is different than the address provided, documentation confirming the home address such as a utility bill or lease agreement is required.

If the eligibility requirements to open a formal Revocable Trust Account cannot be met, you have the option to create an informal Trust by naming your Trust as the beneficiary on your personal membership shares: Savings, Checking, Additional Savings, Money Market, Certificate of Deposit, or Individual Retirement Account (IRA) or Health Savings shares.

For all questions regarding Trust Accounts, please contact Trust Services at 404-677-4100, option # 1.