Financial and legacy planning involves some tough questions. Nobody wants to think about what is going to happen after they have passed and it may feel like an insurmountable challenge.

Luckily there are resources to help you. While lawyers help set up wills and trusts, GSCU can help you with your credit union accounts. Designating beneficiaries can help ease the emotional and financial burden on your loved ones. Beneficiaries are designated to take ownership of your financial accounts after you have passed. They do not have rights to the account while any of the account owners are living. Without naming a beneficiary, legal documentation may be needed in order to appropriate and distribute your assets, even with a will in place.

GSCU is committed to taking care of you and your loved ones. If you did not designate a beneficiary while setting up your account, or your plans have changed, give us a call, send us an email or stop by any branch location and we’ll help make this process as simple as possible. To prepare, you’ll need to provide their name, mailing address, phone number, social security number and date of birth.


  • If you have multiple accounts, ensure that you update beneficiaries for each. Review your accounts every couple of years at a minimum - make sure the beneficiaries are accurate and their information is up to date
  • Review your accounts after major life events as well - such as a marriage, divorce, birth, or a death.
  • Consider who you name as your beneficiary. A court may require guardianship for any minors named or disqualify anyone receiving government assistance. Select a loved one who is responsible, trustworthy, and good with money management.
  • You may want to let your beneficiaries know they are designated in the event of your passing. They will need to provide a copy of your death certificate to begin the transfer process.

Adding beneficiaries to your accounts sets a financial plan in motion and helps put you and your loved one’s minds at ease. If you have accounts at Granite State Credit Union, reach out to us at, and we will be happy to help!

By Erik Howden 

Erik joined the credit union in 2016 and worked in the branches, Consumer Lending, and Mortgages prior to joining the Marketing department. Erik is currently pursuing his Master’s Degree in Digital Marketing at Southern New Hampshire University and holds Bachelor’s in Anthropology from Brandeis University. Erik’s passion for the credit union industry lies in educating and helping members with all of the products and services available to them.