Deceased Member Affairs

Deceased Member Accounts 

Losing a loved one is an extremely difficult time. All of us at Riegel Federal Credit Union would like to help reduce the burden of dealing with the deceased’s finances, and to continue providing you with the highest possible level of service. Below we’ve outlined a few common questions and answers that will help us support you best.

The Credit Union can only discuss a decedent's account with the legal representative of the deceased member or the surviving joing owner(s) of the decedent's account. Accordingly, you must contact the Surrogate's office in the county in which the decedent resided at the time of his/her death and be appointed the legal representative of the decedent and bring a Surrogate's Certificate to the credit union.  Otherwise, the Credit Union cannot provide you with any information concerning the account. You can obtain more information from the Surrogate's Court for Hunterdon County by clicking here. 

If you are a joint owneer, you must provide the Credit Union with a copy of the decedent's death certificate. Also, please provide the Credit Union with contact information such as a phone number and/or an email address. Below we have outlined a few of the most common questions and answers that will hopefully be useful as you navigate through this difficult time.

 

Where Should I Begin?

The first step is to notify us as soon as possible after the death of a loved one. Upon hearing from you, we may request the following information:

  • Name of deceased
  • Date of death
  • Certified copy of the death certificate
  • Name(s) of individual(s) who will be settling the account
  • A Court Qualification letter or an Affidavit to Disburse Account of Decedent, if there are no joint owner(s) or payable on death (POD) beneficiaries on the account
  • A surrogate’s certificate or Short form
     

Am I Required To Close A Deceased Member's Account?

We encourage joint owners, POD payees, and those serving in fiduciary capacities to work toward closing a deceased member account as soon as possible.

  • If the deceased person is the primary account holder, all dividends earned in the amount of $10.00 or more will continue to report in the decedent’s name and social security number for tax purposes.
  • Electing to close the account may limit tax-filing complications.
     

What Other Services Can You Provide After A Death?

Riegel FCU has a designated staff devoted to assisting the families of our deceased members.
 

Contact

Please call 1-908-995-2326 to speak with a member of our Deceased Claim Team, or visit one of Riegel FCU's four branch locations.

 

Additional Considerations

People and place to contact, if applicable:

  • The State of New Jersey Form L-8 (Affidavit for Non-Real Estate Investments: Resident Decedents)
  • Financial Institutions
  • File life insurance claims on loans, mortgages, and credit cards
  • Stockbroker (If there are brokerage accounts to be settled)
  • Agencies handling benefits such as: Social Security Administration, Railroad Retirement Board, Veterans Administration, Civil Service, Pension/Retirement plans, etc.
  • Utility companies
  • Insurance companies
  • Department of Motor Vehicles
  • Circuit Court Clerk’s Office, in the jurisdiction where the decedent last resided and paid their taxes

 

Steps to take regarding accounts:

  • Cancel direct deposits.
  • Cancel pre-authorized drafts.
  • Re-direct pre-authorized drafts and direct deposits to new accounts.
  • Update beneficiary information, under survivor’s account, if necessary.
  • Review account history for recurring electronic withdrawals, action may need to be taken to stop future drafts. Contact the respective companies, if necessary.
  • Update official documents, as needed.

 

Government Payments:

If the deceased was receiving government payments by direct deposit from a federal agency (e.g. Social Security, Department of Veterans Affairs, Civil Service), you must notify the agency of the death as soon as possible. Riegel FCU is required to return any government payments associated with the decedent's Social Security number after the date of death.

Social Security Administrations
(800) 772-1213

Civil Service (U.S. Office of Personnel Management)
(888) 767-6738

Department of Veterans Affairs
(800) 827-1000