FORMS & AGREEMENTS

 Please complete all fields so we can process your request.

Notes:

• Eligibility: Please list how either the Custodian or the Minor is eligible for PenFed membership.
• The Custodian is the administrator of the funds for the Minor.
• The Minor is the individual who will receive the funds once they reach the age of majority.
• The Transferor is the individual giving funds to the minor (if different from the Custodian).

Forms:

Membership/Account Application (Form 20-VUTMA)

• The Custodian must sign the attached Membership/Account Application for the Custodial Trust to be established.

Agreement for Custodial Trust Account (Form 706-W)

• Transferor Fiduciary Instructions - If the Transferor is unable to sign the form, the name and representative capacity of the Fiduciary must sign.
• The funds will be payable to the Minor at age 21 or 18 at your discretion. If no choice is made, the funds will be payable at age 18.
• The Transferor’s information is needed even if they are not signing the form.

You might be interested in these additional VUTMA account products:

• Application for Checking Account (Form 151-VUTMA)
• Application for Premium Online Savings Account (Form 220-VUTMA)
• Application for Money Market Savings Account (Form 400-VUTMA)
• Application for Money Market Certificate (Form 688-VUTMA)

Please call 1-800-247-5626 with questions and we would be happy to assist you.

Please complete all fields so we can process your request.  

Notes:

• Please confirm that your trust is an Irrevocable Living Trust (IRT). If your trust is a Revocable living Trust (RLT) different paperwork must be completed.
• An IRT is a legal arrangement whereby assets are transferred by a person(s) (usually called the Grantor) during their lifetime into an IRT. Through the IRT, a party (Trustee) holds and manages the assets for the benefit of another person or persons (Beneficiary).
• The Grantor chooses not to retain certain rights, ownership or powers over the IRT to ensure the IRT is not taxable to them and the assets may be removed from their estate.
• An IRT will have its own PenFed membership since it is a separate entity. Either all Grantors or all Trustees or all Beneficiaries of the IRT must be eligible for membership with PenFed before the IRT can be established.
• This account is set up under the Trust's Tax Identification Number.

Forms:

Membership/Account Application (Form 20-IRT)

• The Grantor(s) and Trustee(s) must sign in the appropriate sections.

Declaration of Trust (Form 74)

• The identity of the Grantor(s), Trustee(s), Successor Trustee(s), and Beneficiaries must be provided on this form. 
• Successor Trustees and Beneficiaries need only be completed if they are listed in their Trust. 
•  All primary Trustees must sign for the IRT account to be established. 
  

 Application and Agreement for Irrevocable Trust (Form 43)

• All primary Trustees must sign this form.

You might be interested in these additional IRT account products:

Application for Checking Account (Form 151-IRT)

Application for Premium Online Savings Account (Form 220-IRT)

Application for Money Market Savings Account (Form 400-IRT)

Application for Money Market Certificate (Form 688-TRUST)

• All primary Trustees must sign at the bottom of the form. The "Member Owner" section must be completed with the IRT Information (SSN  = Tax ID Number & DOB =  Date Trust Established).

Additional Information:

• IRA products, loans, ATM cards, and debit cards are not available for IRT accounts.
• Only primary Trustees will have access to the funds.

Please call 1-800-247-5626 with questions and we would be happy to assist you.

Please complete all fields so we can process your request. 

Eligibility for Membership:

AlI members of your Organization must be within our field of membership and must be:

• Members of ASMC, CGAuxA, Marine Corps League, MOAA, NAUS, Navy League, ROA, USAWOA, VFW
  
  OR
  
  
• The Organization is a federal credit union

If the Organization’s members do not qualify as indicated above, a letter must be attached to the application with an explanation of how all members of the Organization meet PenFed’s membership requirements. For information on field of membership, please click here, or contact a Member Service Representative at 800-247-5626.   

Forms:

Membership/Account Application (Form 20-ORG)

• To establish, or make changes to your Organizational account, please fill out the Membership/Account Application Form (20-ORG).

Certification Regarding Beneficial Owners of Legal Entity Customers (37-ORG)

• This form must completed yearly by legal entities regardless if changes are made that year.
• Every time an account is opened or ownership is changed, this form must be completed. This form is attached to forms 20-ORG, 151-ORG, 400-ORG, and 688-ORG for your convenience. 

Amendment to Resolution to Conduct Business with Pentagon Federal Credit Union (Form 1382)

• To be used when making a change to your Organization’s information or account signers.
• If all the signers on the account are changing, we need evidence provided from the organization evidencing the change in signers. This could be in the form of meeting minutes or a letter signed by a previous signer.

You might be interested in these additional Organizational account products:

Application for  Checking Account (Form 151-ORG)

Application for Premium Online Savings Account (Form 220-ORG)

Application for Money Market Savings Account (Form 400-ORG)

Application for Money Market Certificate (Form 688-ORG)

• All signers for the Organization must sign at the bottom of the form. 

Additional Information:

• ATM and debit cards are available for Organizational accounts. 
• Only secured Share Loans are available for Organizational accounts.

Please call 1-800-247-5626 with questions and we would be happy to assist you.

Public Unit Account Instruction Sheet and Forms – Please complete 

Please complete all fields so we can process your request.  

Eligibility for PenFed Membership:

To be eligible for membership, a Public Unit must be:

• Under the control of a federal agency
• Under the control of  a state agency
• Under the control of a local government agency

Forms:

Public Unit Membership Application (Form 13-PU) and Resolution by Public Unit to Conduct Business with Pentagon Federal Credit Union (Form 652)  

• To establish your Public Unit Membership and Share Account, please fill out both forms completely.
• All persons who are to have authority to access the Public Accounts must provide their information and sign the forms.
• An authenticated true copy of authority to make share purchases and withdrawals must be provided with these forms.

Amendment to Resolution to Conduct Business with Pentagon Federal Credit Union (Form 1382)

• To be used when making a change to your Public Unit’s information or account signers.
• If all the signers on the account are changing, we need evidence provided from the public unit evidencing the change in signers. This could be in the form of meeting minutes or a letter signed by a previous signer.

You might be interested in these additional Public Unit Account products:

Application for  Checking Account (Form 151-PU)

Application for Premium Online Savings Account (Form 220-PU)

Application for Money Market Savings Account (Form 400-PU)

Application for Money Market Certificate (Form 688-PU)

• All signers for the Public Unit must sign at the bottom of the form. The Member Owner section must be completed with the Public Unit Information (SSN = Public Unit’s EIN and DOB =  Date  Public Unit  Established.)

Additional Information:

• ATM and debit cards are available for Public Unit Accounts. 
• Only secured Share Loans are available for Public Unit Accounts.

Please call 1-800-247-5626 with questions and we would be happy to assist you.

Please note that each account the joint owner is being removed from will be closed and a new account opened. 

A joint owner cannot be removed from a Money Market Certificate without consent. You must send a written request to close the certificate with an acknowledgment of penalty. If you choose to leave your certificate unchanged, the joint may withdraw the funds. 

To remove a joint owner from your deposit accounts with PenFed you will need to complete the following forms:

• Form 834, Joint Owner Removal Without Consent – The forms listed below must also be completed and submitted for each account type you are updating.
• Form 13, Membership Application  – This form must be completed to update the ownership of any existing Share Savings Accounts.
• Form 151, Checking Account Application – This form must be completed to update the ownership of any existing PenCheck Checking Accounts
• Form 400, Money Market Savings Account Application – This form must be completed to update the ownership of any existing Money Market Savings Accounts.

Please complete all fields so we can process your request.  

Notes:

Before completing the following forms, please confirm your Trust is an RLT. If your Trust is an Irrevocable Trust (IRT), separate forms must be completed.

• Definition: A Revocable Living Trust is a legal arrangement established by a person(s) (usually called the Grantor) during their lifetime through which a party (Trustee) holds and manages assets for the benefit of another person(s) (Beneficiary). An RLT may be amended or terminated by the Grantor at any time.
• If your RLT  has its own Tax Identification Number, your RLT will have its own membership.
• If your RLT is under your Social Security number, PenFed will establish a secondary account in the name of your Trust. Your primary Share account and membership must remain in your name
  
• If an account you wish to re-title to your RLT has a joint owner who is not a primary Trustee of the RLT, please contact us for joint removal paperwork as they will have to relinquish their ownership of the account.

Forms:

Membership/Account Application (20-RLT)

• The Grantor(s) and Trustee(s) must sign in the appropriate sections.

Declaration of Trust (Form 74)

• Please provide the identity of the Grantor(s), Trustee(s), Successor Trustee(s), and Beneficiaries on this form as indicated in the Trust. 
• All primary Trustees must sign for the IRT account to be established.

Application and Agreement for a Revocable Living Trust (Form 77)

• All primary Trustees must sign this form.
  

You might be interested in these additional Revocable Living Trust account products:

Application for  Checking Account (Form 151-RLT)

Application for Premium Online Savings Account (Form 220-RLT)

Application for Money Market Savings Account (Form 400-RLT)

Application for Money Market Certificate (Form 688-TRUST)

• This form is to be completed if you wish to establish a new Certificate in the name of your trust.

Amendment to Share Certificate Agreement (Form 771)

• This form is to be completed if you wish to re-title an existing Money Market Certificate in the Trust, and all current Certificate owners are primary Trustees.
• If the Certificate you wish to re-title to your RLT has a joint owner who is not a primary Trustee of the RLT,  please contact us for joint removal paperwork as they will have to relinquish their ownership of the account.
• All primary Trustees must sign/complete the section titled Revocable or Irrevocable Trust. The primary owner of the Certificate must sign and list their Social Security number.
  

Additional Information:

• You cannot re-title your primary Share account, loans, or IRA accounts in your Trust.
• You can list your Trust as the beneficiary of your primary Share and IRA accounts by completing a Signature Card (Form 13) for a Share account, and IRA Designation of Beneficiaries (Form 732) for an IRA.
• ATM and debit cards are available if the Grantor is also a Trustee.

Required Documents and Forms:

Power of Attorney Document

This must be an original document, or certified copy from someone authorized to attest that the copy provided is a true and correct copy of the original.

Please Note: PenFed will not accept a faxed copy.

The original or certified copy must be mailed and will be returned to you once it has been reviewed.

(PDF) Statement of Indemnity (Form L-12)

This form is to be signed before a notary by the member (grantor).

If the member is unable to sign the form L-12 due to deployment or disability, a (PDF) Statement of Indemnity by Attorney-in-fact (Form L-14) can be signed by the Agent before a notary. The agent will also need to send a copy of the member's military orders or a doctor's note to verify member's inability to sign.

(PDF) Power of Attorney Agent's Affidavit (Form 172)

This must be signed by the Agent and witnessed by a Notary Public.

Once PenFed has received the above documents, the POA will be reviewed and placed on file if accepted. Confirmation letters will be sent to both the Agent and the Grantor.