Loss of a Loved One: Settling Financial Affairs

At Gulf Winds, we understand that losing a loved one can be very overwhelming. We can help ensure that your loved one’s financial accounts are one less thing to worry about. We’re here to help in any way we can during this difficult time for you and your family.

How to Get Started

Following the loss of a loved one, please notify Gulf Winds as soon as possible. You can reach our team of Member Service Representatives at 1.800.650.6328, or stop by a branch to speak to one of our Financial Service Representatives.

Required Documentation

In order to file payment protection claims, Gulf Winds requires you to provide a Long Form Death Certificate. This particular type of certificate includes the cause of death, which is required to file the claim.

Frequently Asked Questions

Below are some of our frequently asked questions regarding the accounts of a loved one that has passed away.

Can I provide a photocopy of the death certificate?

In some cases, yes. Sometimes we require a certified copy, so please ask us about your family member’s specific accounts.

Does Gulf Winds need any additional documentation?

If there isn’t a joint owner or beneficiary listed on an account, we may require Letters of Administration, Summary of Administration, or other court appointing orders.

What happens to funds direct deposited after my family member’s death?

Gulf Winds is required to return any federal paying agency’s direct deposits that are received after death. This includes Social Security, DFAS, VA, etc. You will need to contact these agencies to get payments stopped so that you don’t have to pay back additional funds.

Social Security Administration
ssa.gov
1.800.772.1213

Defense Finance and Accounting Service
dfas.mil
1.888.332.7411

Veteran’s Affairs
va.gov
1.800.827.1000

What if I live out of town and am unable to come to a Gulf Winds branch?

Restructuring (removing a deceased joint account owner, changing beneficiaries, etc.) or closing of accounts can be processed for out of town individuals.

What is a POD Account?

A Payable On Death (POD) account allows members to appoint a beneficiary. Our accounts are POD with joint rights of survivorship.

What happens to Power of Attorneys?

A Power of Attorney becomes null and void upon death.

What happens to Sole Proprietorship’s Authorized Signers?

Authority to sign terminates upon death of an account owner.

What happens once processing of my family member’s account is complete?

One of our Financial Service Representatives or Member Service Representatives will contact the joint account owner, beneficiary, or another appropriate party to close or restructure the account(s).

What happens with outstanding loans?

If there is a co-borrower, the loan balance becomes their responsibility. Loans with no co-borrower need to be paid in full. Deposit account funds may be held or transferred to the loan. Collateral loans are also required to be paid in full or the collateral must be surrendered.

What if my loved one has a mortgage with Gulf Winds?

If applicable, co-borrowers will continue to be responsible for the loan. For mortgage loans with no co-borrower, please contact our CLMR Specialist. Letters of Administration may be required.

What happens to the contents of a Safe Box?

Gulf Winds may require the Letters of Administration or another type of Court Order to enter, obtain Safe Box contents, and/or close the box. Deputies associated become null and void upon death.