Credit union won't let me add a beneficiary to my checking account?

As a sole proprietor, I just opened a business checking account at a local credit union, and when I asked to add a beneficiary to the account I was told that they could not do that. I have been doing personal banking with this credit union for a long time and they are reputable. No one but me has authorization to use the account, because I don't trust anyone else to have access to it at this point - which is what they suggested as an alternative. Is this typical in the banking industry?