Opening a Trust Account

A trust is an agreement between parties in which the trustee manages property on behalf of the trust for the benefit of the named beneficiaries. Generally, there are two types of trusts: revocable (also called revocable living) and irrevocable. A revocable trust is usually created to manage assets during the trustor or trustee's lifetime. An irrevocable trust provides for the ongoing management of assets for the trust for the benefit of a named beneficiary.*

Documents Required

How to Provide the Application

You have two different ways to submit your application:

  • Find a location to submit in person.
  • Mail to:

    BECU Account Servicing M/S 1094-2
    P.O. Box 97050
    Seattle, WA 98124-9750

Application Process

The change request review and approval process takes approximately two business days after we receive the required documents.

Additional Information

  • You can designate trusts as beneficiaries on deposit accounts.
  • If you prefer to designate the trust as a beneficiary on a deposit account, complete the Consumer Account Changes and Requests form. All account owners must sign to designate a beneficiary.
  • You can transfer all deposit accounts except Member Share Savings and IRAs to Revocable Living Trust if:
    • The tax ID used for the trust is the same as the primary owner's tax ID on any personal accounts being transferred.
    • The account is not a checking account tied to an active line of credit.
  • Trust accounts are not eligible for Member Advantage rates.
  • You must create a separate Online Banking login to view trust accounts online.
    • You can view eStatements and pay bills online using a trust account after you establish an Online Banking account.
  • We require a completed Third Party Transfer Authorization Form(s) to complete online transfers from your personal accounts to the trust accounts, or vice versa.
  • The Social Security number (SSN) is required for the acting trustee(s) and the Taxpayer Identification number (TIN) is required for the Trust.
  • BECU is generally able to convert personal accounts to Revocable Trust accounts with the exception of Member Share Savings and Member Advantage Savings.
  • Personal Member Share Savings accounts cannot be closed if there are existing loans. Other conditions may apply.
  • Account types that are available for trusts: Member Share Savings, Savings, Checking, Money Market, and Certificate of Deposit (CD).
  • If a revocable trust is being established for a Home Equity Line of Credit (HELOC), please call BECU at 800-233-2328 or visit a BECU location near you for more information.

* Member Share Savings account required to establish membership; not everyone will qualify.

Information contained on this website does not constitute legal advice. Individuals should consult with their attorney for advice.