Loss of a Loved One
When a spouse or partner dies, surviving family members are left with memories, photos, keepsakes, a tide of emotions -- and often times, financial challenges. Northeast Credit Union (NECU) works with bereaved individuals to help them sort through their accounts and make any necessary changes.
The first step is to take an inventory of all your account holdings, assets, and liabilities. These may include...
- Savings and Checking Accounts: Joint accounts need to be closed and new accounts opened for individuals. Beneficiaries on savings accounts need to be updated. Please visit our Savings Accounts and Checking Accounts pages to see the range of products available.
- Investments1, Retirement Accounts, and Life Insurance: Account holder names and beneficiaries need to be updated on investments and retirement plans. Life Insurance companies need to be notified of death of the insured before proceeds can be paid to the beneficiary. See our Investment and Insurance Services1 section for more.
- Loans and Credit Lines: Mortgages, auto loans, personal loans, home equity loans and lines of credit, credit cards -- any lending account bearing both parties' names will need to change. See our Lending page for products.
Visit our Financial Education Center to learn more about Money Management. A good starting place is the helpful article on "Financial Tips for Widows or Widowers."
Let NECU help you through this difficult time, so you may begin to enjoy life again, as your loved one would want you to do.
Contact a Northeast Credit Union member service representative today.
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