In the event of a death of an individual account member, their Capital Credits become payable. In the event of the death of one member on a joint account, that individual's proportionate share of Capital Credits becomes payable.
In either case, we require:
- A copy of the death certificate
- A copy of Personal Representative Appointment papers (if an estate)
- An Indemnity Bond (if no estate)
Once the necessary paperwork has been received, the request for Capital Credit payment is approved at the next monthly board meeting. A check will then be prepared as instructed.