"Naming a corporate trustee can help avoid the stress of having to choose one family member over others, or to find someone who has the time and skills to fulfill this important role," Desmond said.

Prior is hoping the complimentary trust reviews will appeal to members, which will help reaffirm beneficiary selections, confirm trustee options, ensure trust assets are funded appropriately, and identify ways to reduce ongoing fees.

"Many people think their irrevocable trust is immovable, but oftentimes, this is not the case," Prior said. "It is a good idea to review trust arrangements regularly and be sure to update them according to one's current situation."

CUFN went with AST Trust after looking at several different companies including MEMBERS Trust Co., Prior said. AST Trust, a division of American Stock Transfer & Trust Co., provides directed trustee, trust administration and back-office services to financial advisors who serve individuals, families, companies, foundations, organizations and financial institutions. Founded in 1971, privately-held American Stock Transfer & Trust Co. services more than six million shareholder accounts on behalf of more than 2,500 public company equity issuers. CUFN did a soft rollout in June, which included training employees.

"We've kept everything very clean," Prior said. "There's no revenue sharing with AST, CPAs or attorneys. We negotiate lower fees for the members." Members are charged .65% up to the first million dollars in assets and then it goes up several tiers beyond that threshold, Prior said. It's widely know that trust services have yet to make a big breakthrough within the credit union industry for reasons ranging from deciding whether members really need or want such services to the seven to 10 year run it takes before an estate planning operation can turn a profit. Prior compares trust services in the movement to "fighting the last war"–a phrase he borrowed from credit union veteran Wylie Dougherty, who serves on CUFN's management team.

"When it comes to building a trust company and having a 10-year pro forma–that's the way to do it," Prior said. "Sometimes egos get in the way of ownership [at other operations] but for us, the pricing is right. We have no overhead. Besides marketing, it's all profit." –[email protected]