FAQs regarding deceased member accounts

Unfortunately, the credit union cannot validate a Will. A Will must be probated through the Surrogate’s Court, and an estate representative must be appointed by the court. If there are no beneficiaries or joint account holders for the deposit account, we can only accept instructions from the court-appointed legal representative.

The credit union will assist in initiating the process and informing you of any outstanding loan balances. The credit union retains a lien on all deposit balances of the deceased member for amounts owed to the credit union.

If the deceased was receiving Social Security benefits, those payments were likely deposited electronically into their account. After their death, any payments received must be stopped and returned to Social Security.

If the decedent’s account was managed through a Power of Attorney (POA), the POA terminates upon the death of the principal and is no longer valid.

If the deceased was the trustee of a trust account at the credit union, you should refer to the trust agreement to determine if a contingent trustee is named. If a contingent trustee exists, the trust account remains active and will be managed by that individual.

The same process for deposit accounts will apply to any IRA or HSA. Additionally, if the account owner named beneficiary(ies), documentation will be sent to the address on file for these individuals. If you believe you are a named beneficiary, please provide the most recent address when you contact Affinity FCU. For IRA and HSA accounts, any named beneficiaries will be contacted directly for further processing of their claims.

If no Will exists, you will need to visit the Surrogate’s office in the county where the decedent resided. The Surrogate will explain the process for appointing a next of kin as the legal representative of the decedent’s estate, issuing them a certificate to serve in this capacity. The appointed legal representative can then present the certificate to the credit union, and we will follow their instructions.

• Cancel direct deposits (e.g., payroll, Social Security payments).

• Cancel pre-authorized drafts.

• Redirect pre-authorized drafts and direct deposits to new accounts, as necessary.

• Update beneficiary information, if applicable.

• Review account history for any recurring electronic withdrawals, and take appropriate action to stop future drafts. Contact the respective companies if necessary.

• Update official documents as needed.

The first step is to notify the credit union as soon as possible following the death of a loved one. You will need to provide the following information:

• Full name of the deceased

• Date of death

• Copy of death certificate

• Full name of the deceased

• Name(s) of the individual(s) responsible for settling the account, along with a copy of their driver’s license(s) or state-issued ID(s)

• A completed L8 form, if the deceased was a resident of New Jersey at the time of death and you qualify to use this form. If you do not qualify, a tax waiver will be required and a hold may be applied on the date of death balances.

• If the deceased was not a resident of New Jersey at the time of their passing, you will need to submit an Affidavit of Domicile.

Note: If the deceased resided in New Jersey at the time of death, you must submit an L8 form as mandated by the New Jersey Division of Taxation. For assistance, please contact the state at 609-292-5033.

Note: If the decedent did not reside in New Jersey, an Affidavit of Domicile must be submitted. The credit union will provide these forms.

The credit union can only discuss the account of a deceased member with the legal representative of the decedent’s estate or surviving joint account holder(s). To gain access to any individual owned account(s), you must contact the Surrogate’s office in the county where the decedent resided at the time of their death, be appointed the legal representative, and provide the credit union with a Surrogate’s Certificate. Without this, we will not be able to release any account information.

If you were a joint account holder, you will need to provide a copy of the decedent’s death certificate as well as either an L-8 or Affidavit of Domicile described below.

• If you are an Affinity FCU member, documents can be uploaded through your online banking profile.

• If you are not a member, please contact our Member Service Center at 800-325-0808 or mail the required documents to:

Affinity Federal Credit Union
Attn: Decedent Department
73 Mountainview Blvd
Basking Ridge, NJ 07920