The beneficiary on an account is the close friend or family member who will take ownership of the funds in a member’s account in the event of the member’s passing away. The beneficiary is not able to use the account like a normal member while the member is still alive. This is different than a joint owner, who has access to the account whether the member is alive or has passed away.
If you need to add a beneficiary or make a change to an existing beneficiary, then Compass is able to do so. Please contact our member service representatives at the below information, and we will provide you with the electronic form you will need to fill out.
Phone: (616) 887 – 8262, option 3