Member Trust Services (MTS)
The Member Trust Services (MTS) Program is designed for those credit unions that wish to be more involved in the provision of trust services. The MTS Program provides a cost-effective means to deliver Estate Planning, a critical wealth management component, to your members. MTS uses a web-based platform as well as individual coaching to deliver comprehensive product and program material to your credit union’s trust specialist.
Your credit union can capitalize on these opportunities by adding personal trust services into your wealth management strategy. The MTS program is at the heart of wealth management and provides your credit union with the ability to:
  • Position MTS to support your credit union’s unique objectives.
  • Offer specialized information and direction to your members.
  • Provide cost-effective access to professional trust products and services.
  • Link wealth accumulation, protection and distribution.
  • Identify reciprocal business opportunities.
  • Form stronger member relationships.
  • Enhance fee revenue.
Trust products and services provide your credit union with the unique opportunity to get to know your member and build stronger relationships. MTS products and services include:
Estate Planning
The process during which your credit union assists members in reviewing their current situation and identifying alternatives available to establish and accomplish personal financial goals. Estate planning assists your member in making informed decisions about the ownership and distribution of assets during their lifetime and upon death. It is often the first step in the preparation of a properly drafted will.
Estate Administration
A formal process during which the authorized estate representative identifies assets, settles debts, pays taxes and distributes the balance of the estate in accordance with the terms of the will or the laws of intestacy. Estate administration brings a person’s financial affairs to a close.
A valuable estate, income tax and financial planning tool established through formal legal agreements. The member establishing the trust names the beneficiaries who are entitled to receive the benefits from the trust and transfers legal ownership and control of the property to the trustee. The trustee administers the assets according to the terms established.
Managed Accounts
A product that allows your member to appoint a professional agent to direct some or all of their financial affairs. Your member retains legal ownership and control in the assets and can have as much, or as little, involvement as desired. A formal agreement with Concentra contains the details of the arrangement and which functions are delegated.
More MTS program details…