We will be closed on Wednesday, June 19 in observance of Juneteenth.

Connected Credit Union FacebookConnected Credit Union InstagramYouTubeBlog

Verified by Sysnet

Make a payment from an external account using a debit card, credit card or ACH. (an external account is a non-Connected Credit Union account)

One Time Payment

Returning User

Connected CU
Connected CU
Keeping you informed

Blogging with Kerri

Keeping you informed

Home > Beneficiary vs. Joint Owner

Beneficiary vs. Joint Owner

5/10/2022

Beneficiary vs. Joint Owner

Do you know the difference between having a joint owner and a beneficiary on all of your accounts?

We break it down for you in simple terms here:

Joint Owner

A joint owner on your account is someone with whom all funds are shared during your lifetime. This is a great option for two people who want to share an account and funds. For example, a couple could have a joint account to save together for a common goal or to pay household bills.

 

Beneficiary

A beneficiary named on your account allows you to choose who will have access to your funds after your passing. This is a great option for providing your loved ones with your clear intentions after you are gone.

 

Naming a joint owner or beneficiary is easy, contact the credit union today for details.

Augusta Branch: (207) 623-3857 • Winslow Branch: (207) 872-2636

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.



« Return to "Blog"