Joint Accounts, JWRS and JWORS. A Joint Account is an account with more than one owner. One of the owners is designated as the Primary Account Holder and any other owners are designated as Joint Account Holder(s). When you set up a Joint Account, you can designate it as either a JWRS or JWORS. In either case, the Primary Account Holder and Joint Account Holder(s) each own the Account and each have the same authority on the Account, except for those things that only the Primary Account Holder can do (see below in subsection 1). Your Joint Account will be set up as a JWRS, unless you designate otherwise at the time of account setup. The Primary Account Holder and all Joint Account Holder(s) must approve any addition or change in the designation of beneficiaries for any Joint Account and the addition of any Joint Account Holder. We may require that any changes to the Account be made in a written form acceptable to BECU, which, upon execution, will be controlling.
