Payable-on-Death Beneficiaries. A POD designation is an instruction to WECU that a designated account is payable to the owner or owners during their lifetimes, and upon the death of the last joint account owner, payable to any named and surviving POD beneficiary designated by you. Accounts payable to more than one POD beneficiary are owned jointly by such beneficiaries with rights of survivorship. A POD beneficiary designation on an Account Card shall apply to all of your accounts unless otherwise specifically designated and except for HSA, XXX and Education Savings accounts, which shall be governed by a separate beneficiary designation. WECU shall at no time have any obligation to notify any beneficiary of the existence of any account or the vesting of the beneficiary’s interest in any account, except as otherwise provided by law.
Appears in 4 contracts
Samples: Membership and Account Agreement, Membership and Account Agreement, Membership and Account Agreement
