In the event a member dies, the capital credits in the member’s account become a part of the estate. In order to assist the member’s heirs or beneficiaries in closing the estate, the capital credits are retired. Upon request by the personal representative of the estate, or the heirs of a deceased member, where no personal representative has been appointed, the cooperative will provide a listing of the documentation required to retire the account.
In the event of the death of either partner where joint membership was held, 1/2 of the accumulated unretired capital credits will be paid to the surviving partner, and a new single membership will be set up.