Deposit Trust Accounts

Interested in opening an account titled in the name of your Revocable Trust? Let DCECU help fulfill your deposit needs.

Products offered with this type of account are a Prime Savings, Checking, Secondary Savings, Premium High Yield, and Certificates of Deposit. Additional services include ATM and debit cards, 1Call audio response system, Online/Mobile Banking and Bill Pay services.

Trusts give legal instructions regarding how the grantor’s1 property and assets will pass to beneficiaries. The assets/funds are managed by the trustee. Prior to applying for a Deposit Trust Account at DCECU, a Revocable Trust agreement drawn up by a licensed attorney is required.

To open a deposit account owned by a trust at least one of the grantors of the trust must also establish an individual membership at DCECU. The trust grantor must also be named the trustee (settlor - trustee) of the trust. This means the member has created the trust and can also manage it during his/her lifetime.

The application process may be initiated by calling our Member Contact Center or visiting our Account Services Department, along with providing the following:

  • A copy of your Certificate of Trust Existence and Authority or the first and last pages (signature pages) of your trust document (with a Social Security or Tax ID number)
  • A completed Agreement to Facilitate form. It is important that the information you provide on this form mirrors your trust document as it will be used by the credit union to manage your trust account. The Agreement to Facilitate form requires notarization and must be signed by all grantors and trustees. Trustees must sign as follows: your signature, Trustee
  • A copy of a current government issued picture ID, i.e., driver’s license (front & back) for all grantors and trustees
  • The original or certified death certificate(s) if anyone named in the Trust title is deceased
  • Any amendments to the original Trust Agreement

These documents may be submitted by mail or in person.

Upon receipt of the required documents by mail, a representative will contact you to complete the account opening process.

For more information on Deposit Trust Accounts, stop by or contact us.

  1. Person who establishes the trust ↩︎