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How to Update Your Beneficiaries

Keeping your beneficiaries up to date helps ensure your money is distributed according to your wishes.

It's a good idea to review your beneficiaries whenever you experience a major life event, such as:

  • Marriage
  • Divorce
  • Birth or adoption of a child
  • Death of a beneficiary
  • Retirement
  • Estate planning updates

What Is a Beneficiary?

A beneficiary is a person you designate to receive funds or assets after your death.

Reviewing your beneficiaries regularly helps ensure the correct individuals are listed on your accounts and policies.

What Accounts and Policies Should I Review?

Beneficiaries may be associated with:

  • Savings accounts
  • Checking accounts
  • Certificates (CDs)
  • Individual Retirement Accounts (IRAs)
  • Life insurance policies
  • Disability insurance policies
  • Mutual funds
  • Annuities

If you're unsure whether an account has a beneficiary designation, contact Peak Credit Union for assistance.

How Do I Update My Beneficiaries?

Option 1: Visit a Branch (Recommended)

The easiest way to update beneficiaries is to visit any Peak Credit Union branch.

A Member Service Specialist or Financial Consultant can:

  • Review your current beneficiary designations
  • Answer questions
  • Complete the required paperwork
  • Process the change

Important

All account owners must sign when adding, removing, or changing beneficiaries.

Because signatures are required, visiting a branch is usually the quickest and easiest option.

Option 2: Request Forms by Mail

If you're unable to visit a branch:

  1. Contact Peak Credit Union via website chat or at (800) 258-3115 during business hours.
  2. Request beneficiary update paperwork.
  3. Complete and sign the required forms.
  4. Return the paperwork to Peak Credit Union.

Once all required signatures have been received, the beneficiary change can be processed.

Frequently Asked Questions

When should I review my beneficiaries?

  • You should review your beneficiaries whenever you experience a major life event or significant change in your financial or family situation.

Do all account owners need to sign?

  • Yes. All account owners must sign when updating beneficiary information.

Can I update beneficiaries without visiting a branch?

  • Yes. Peak can mail the required forms to you if you're unable to visit a branch.

How do I know who is currently listed as my beneficiary?

  • Contact Peak Credit Union or visit a branch, and a team member can review your account information with you.

Need More Help?

Chat with us:

  • Ranger virtual assistant is available 24/7 through website chat to answer questions and help you find information.

  • If you need additional assistance, you can connect to a live chat agent during business hours:

    • Monday-Friday: 8:00 a.m. - 6:00 p.m. PT
    • Saturday: 9:30 a.m. - 2:00 p.m. PT
    • Excluding holidays

If you have questions about beneficiary designations, required paperwork, account ownership requirements, or updating beneficiaries on your accounts, start a chat with Ranger or connect with a live representative during available chat hours.

Prefer to call? Contact us at (800) 258-3115.