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Account Modifications

Account Modifications Frequently Asked Questions

How do I add a name to my membership account?

In order to add a name to your account, a Conversion Form must be completed and signed by the current member(s) and the person whose name will be added.  Please contact our office to obtain a Conversion Form.

How do I change the personal name on my membership account?

For the following changes, you may simply provide us with a copy of your Social Security card or driver’s license, and a written request:

  • Correcting the existing spelling of your name
  • Correcting or adding a middle initial
  • Adding Jr./Sr. or I/II/III/IV to your name
  • Changing a Name Due to Marriage or Divorce

How do I remove a name from a joint membership account?

If the total value of the members’ capital credits is under $1000, the member who requests the name removal simply needs to sign an Agreement Under $1000 Form.  Please contact our office to obtain this form.

If the total value of the members’ capital credits is $1000 or more, all members must sign a Letter of Assignment Form, instructing SVEC of how the members would like the capital credits to be split or assigned.  Please contact our office to obtain a Letter of Assignment.

How do I change the business name on my membership account?

For name changes from a business name to a personal name, evidence of ownership is required.  The following documentation may be considered as evidence:

  • Income tax return
  • State license
  • Articles of incorporation (Sub-chapter S or otherwise)
  • Purchase Agreement or Bill of Sale

If the owner of the account has passed away, please provide a copy of their death certificate, a copy of the letters of administration, or will, along with the other documentation mentioned above. 

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