
Special Purpose Accounts
Pittsford Federal Credit Union offers a variety of special purpose accounts for unique situations. The special purpose accounts we offer are:
- Custodial – Funds are controlled by a parent/guardian but owned by the minor
- Simple Totten Trust (POD) – Funds are payable equally to each beneficiary listed upon death of all account owners
- Non-Profit Organization – available for non-profit organizations, associations and clubs located in or benefitting our field of membership
- Estate – Funds are controlled by the appointed executor, executrix or administrator(s)
- Revocable Living Trust – available for revocable living trust drawn in NYS with approval by credit union counsel
- Power of Attorney (POA) – A POA designation allows a designated non-owner of an account to transact on behalf of the account owner. Note POA documents dated after 8/31/09 must be approved by credit union counsel
- Representative Payee – Funds are managed by an individual or organization appointed by SSA to receive Social Security and/or SSI benefits for someone who cannot manage or direct someone else to manage his or her money. Learn More
* The USA Patriot Act requires Identity verification for all new accounts. A $5 balance in Super Savings or Checking is required to maintain membership. Membership subject to eligibility.