Does anyone know how banks and credit unions are supposed to handle member accounts after a death? For example a member has an account with the institution that includes checking, savings, and a loan(s). They have a beneficiary(or multiple ones) listed. Is the institution supposed to turn over the funds or can they use them to fulfill the loan(s)? It also doesn't make sense that they know about a member's death and won't let any beneficiaries take out money yet they are still tacking on late fees because the loans havent been paid since the death of the account holder. Then they (the institution) just swept 100% of the funds from the account to the loans to bring them current...well actually ahead....the accounts are now not due for a few months in the future....it just doesn't make sense.