When a member who is over 16 years of age opens a Credit Union account, they are entitled to nominate a person (or persons) to receive their property in the Credit Union on their death. Property includes shares, loans and insurance proceeds.

This is of benefit if the member dies without leaving a will as the property left in the Credit Union will not have to pass through the sometimes timely intestacy process. For a Summary of Nominations Rules, please see our Life Savings Insurance leaflet