Donating no-longer-needed bank accounts 

Donating no-longer-needed bank accounts 


Keith* has been a faithful supporter of The American Legion and makes regular gifts to support its work. Recently, Keith talked to staff and expressed his interest in naming the Legion a beneficiary of his estate, but he wanted to keep the process as simple and inexpensive as possible.

“I love volunteering with the Legion,” he said. “It really gives me a sense of joy and fulfillment. I not only support the organization with my time, but I try to make annual gifts as well. As a donor, I want to leave a meaningful gift to the Legion in my estate plan.”

One day, Keith talked to another volunteer, Sharon*, who told him she had recently made a payable-on-death (POD) gift to The American Legion. She explained that he could contact his bank or credit union and request a POD beneficiary designation form. By filling out the form and sending it back, he could direct the institution to pay the balance of any account he designates to charity when he passes away.

“I decided to name The American Legion the payable-on-death beneficiary of two accounts at my bank,” Keith announced. “Not only was the process simple, but it didn't cost a thing. I also liked that a POD gift gives me flexibility – I still own the accounts and can use the money if my needs ever change.”

Is a POD gift right for you? If you would like to leave a gift to our organization that is simple, inexpensive and flexible if your needs change, please consider a payable-on-death bequest. 

*Please note: Names and images are representative of a typical donor and may or may not be an actual donor to our organization. Since the benefits of a POD gift may differ depending on your personal circumstances, please consult your legal, tax or financial adviser.

The American Legion’s Planned Giving program is a way of establishing your legacy of support for the organization while providing for your current financial needs. Learn more about the process, and the variety of charitable programs you can benefit, at Clicking on “Learn more” will bring up an “E-newsletter” button, where you can sign up for regular information from Planned Giving.