Trust Accounts

We can help you open a CHROME Trust Account that is aligned to your personal estate planning goals through a Checking, Savings, or Certificate Account.

  • No minimum balance
  • Checks are available for your convenience (Checking account only. Debit cards are not available for trust checking accounts)
  • Savings federally insured to at least $250,000 by the NCUA
  • Online/Mobile banking

In order to open an account in the name of your trust, a trust agreement is required. Please consult your attorney.


Here are some steps to get you started: 

Step 1: Begin by establishing your formal trust agreement.

Step 2: Complete the required form. Follow the instructions and complete the Application for Trusts Form

 

Step 3: Bring your printed Application for Trusts form, along with all required documentation, to a CHROME Store location. We recommend that you schedule an in-store appointment.

 

FAQs:

What is a Trustor or a Trustee?
The Trustor/Grantor/Settlor is the person who creates the trust. The Trustee is the person who manages the assets in the trust. In some instances, the currently acting Trustee may not be the original Trustor

Who is an owner?
An owner is the person with the powers to modify or revoke the terms of the Trust, referred to as the Trustor/Grantor/Settlor within the Trust.

Can I add an existing Trust as a beneficiary?
Yes, you can designate a trust as a beneficiary for your personal account.

What do I need to provide to CHROME in order to open the Living Trust?

  • Type of Trust
  • Name of the Trust
  • Date the Trust was established
  • Names of the Trustees
  • Death certificate for deceased Trustees (if applicable)
  • Names of the Successor Trustees
  • If Trustees may act independently or must act together (if there is more than one Trustee)
  • Names of the Beneficiaries (optional; for share insurance purposes only)
  • Signature and notary seal

 

Can I open up a Trust if the Trustee is deceased?
Yes, you will need to supply the death certificate if one of the Trustees is deceased. If all the Trustees of a Living Trust are deceased, then the Successor Trustee must obtain a Tax ID Number and provide a copy of the death certificate.