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:
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.
Person who establishes the trust ↩︎