Types of Accounts
Benefit
Benefit accounts are accounts that opened for one or more individuals who have suffered a hardship. These accounts can be opened as savings, checking, tiered money market, or certificate account. Donations to the account can be made by individuals or organizations. Beneficiaries of the account must be within our field of membership.
Complete our Master Membership Application - Special Accounts form to open a benefit account.
Custodial
Custodian accounts (under the Uniform Gift to Minors Act) are specialized accounts established for a child under the age of 18 or 21. The custodian manages the account until the beneficiary reaches the age of 18 or 21 and takes control. The minor must be within our field of membership, and once the account is opened, the beneficiary can’t be changed. These accounts can be opened as savings, checking, tiered money market, or certificate account.
Complete our Master Membership - Custodial Account form to open your custodial account.
Club
Club accounts are for not-for-profit clubs and organizations whose entire membership is eligible for HVCU membership as individuals. These accounts can be opened as savings, checking, tiered money market, or certificate account. Club accounts have their own member numbers and are separate from those of any signatories on the account.
Complete our Master Membership Application - Special Accounts form to open a club account.
Estate
Estate accounts are established by an Executor or Administrator for the purpose of settling a decedent’s estate. These accounts can be opened as savings, checking, tiered money market, or certificate account.
Complete our Master Membership Application - Special Accounts form to open an estate account.
Holiday Club
A Holiday Club account is established to accept regular deposits of at least eight dollars a month. Additional deposits are permitted. On October 1st the funds are automatically deposited into a checking or savings account. Holiday Club accounts may only be opened as an individual, joint, Benefit, Representative Payee, or Guardian / Conservator account.
Stop into any of our branches to open a Holiday Club account.
Living Trust
A Living Trust is a legal instrument used to transfer assets to a trust that is managed by a Trustee while the owner of the assets is still living. It’s best to consult an attorney prior to setting up a Living Trust. Beneficiaries of the account must be within our field of membership.
Complete our
Living Trust Account Agreement and Certification of Trust form to open a living trust account.
Guardian/Conservator
Guardian/Conservator accounts are established to protect individuals who are declared incapable by the court of handling their own affairs. The Conservatee must be within our field of membership, but the Guardian/Conservator does not need to be. These accounts can be opened as savings, checking, tiered money market, or certificate account.
Complete our
Master Membership Application - Special Accounts form to open a guardian/conservator account.
Infant Compromise
Infant Compromise accounts are established with funds awarded to a minor in specific accordance with a court settlement. Funds become available to the minor upon their eighteenth birthday. These accounts can be opened as savings, checking, tiered money market, or certificate account.
Complete our
Master Membership Application - Special Accounts form to open an infant compromise account.
Totten Trust
A Totten Trust account allows the account owner to name a beneficiary(ies) to automatically receive the funds in the event of their passing. You may otherwise hear these accounts referenced as In-Trust-For or Payable-On-Death. You can name as many beneficiaries as you like, and these beneficiaries can be changed at any time.
Complete our
Beneficiary Information for Totten Trust form to add or change beneficiary information for an non-IRA account.
Representative Payee
Representative Payee accounts are managed by a Social Security Administration appointed designee for the benefit of another person. These accounts can be opened as savings, checking, tiered money market, or certificate account.
Complete our Master Membership Application - Special Accounts form to open a representative payee account.
Authorized Signers
Complete our Special Account Association Information form to add an authorized signer to a special account.