FAQs on Death benefits

What are the entitlements of beneficiaries upon the death of a Member?

If the Member has nominated a beneficiary listed on their account, the beneficiary is entitled to the balance in the Share and Share Deposit accounts up to $50,000.00 after the liquidation of loans if any. Amounts in excess of $50,000.00 are due to the estate and can only be obtained via probate of a will or letter of administration.


For Fixed Deposit accounts the beneficiary is entitled to 100% of the balance after the liquidation of loans.