TAMPA—Members Trust Company said it has partnered with PenFed Credit Union. Under the terms of its recent trust service agreement with the Alexandria, Virginia-headquartered PenFed—one of the nation’s largest credit unions at $20 billion—Members Trust Co. will make a full range of trust products and services available to PenFed’s 1.4 million members. Those who belong to the credit union will now have access to assistance with estate settlement, estate planning, attorney referrals, and trusteed IRAs— all tailored to meet their needs.
Carolyn Glynn, JD, VP, Senior Trust Officer, located in the trust company’s corporate offices in Tysons Corner, Virginia will coordinate the delivery of trust services to PenFed’s members.
“As a special purpose federal savings bank, Members Trust Company is authorized to conduct trust services in all 50 states,” said Glynn. “Members Trust Company maintains a professional staff of six attorneys and is pleased to have the opportunity to make its Professional Trust Officer on Call service available to PenFed members.”
PenFed’s Vice President of Affiliated Business Stephen Simpson added, “Trust services will expand and enhance PenFed’s wealth management brand by meeting the unique and special needs of members who need a corporate fiduciary—especially those who are part of the Baby Boomer generation.”
Members Trust Company is a CUSO that manages more than $ 2 billion and is regulated by the Office of Comptroller of the Currency.