The type of account ownership you select may determine how the account balance passes upon your death. The account owners you enter will apply to all accounts opened during this account opening session.

The ownership options available are:

• Individual
  • The individual on the account owns the account.
  • Upon the death of the individual, ownership of the account passes as a part of the individual’s estate under the individual’s will or by intestacy.
  • This ownership type is reflected as “Single-Party Account Without Payable on Death Designation” on the confirmation form you will be presented at the end of the account opening process.

OR

• Joint
  • Each individual on the account owns the account.
  • The bank may pay the balance in the account to either party at any time.
  • Upon the death of either individual, ownership of the account passes to the surviving individual.
  • This ownership type is reflected as “Multiple-Party Account With Right of Survivorship” on the confirmation form you will be presented at the end of the account opening process.

Please carefully consider the choice to add joint owners to your account. At the end of the account opening process you will be prompted with a form to confirm your ownership selection. If you have any questions, please contact us at (855) 202-8729.