Loan Protection Insurance
Loan Protection Insurance is the insurance cover the Credit Union provides on the lives of its borrowing members.
Should an insured borrower die, or (under most contracts) become totally and permanently disabled for any occupation, the insurance cover provides that the loan is repaid in full. If a member who is eligible for insurance cover and has signed the Credit Agreement dies with a loan outstanding, the loan balance is paid in full by the insurer. Terms and conditions apply.
You will be informed at the time of the loan application if your loan exceeds the amount covered by the credit unions policy. Under the basic policy death cover ceases on the members 70th birthday. The credit union has the option of extending this age limit to the members 80th birthday by affecting cover under the Over 70 Rider. Disability cover however ceases on the eligible members 60th birthday.
Benefits of Membership
Members can take out flexible loans after joining, and repay at tailor-made schedules. All our loans are fully insured (for free), against disability or death.
Quality Service, No Fees
You can be assured of a professional service from Credit Union at all times. And you do not pay a transaction fee for saving with us, or borrowing money.
Pay by Standing Order
Arrange a Standing Order and be sure of regular payments to your Credit Union account. We will send you a statement showing all transactions.
Member Services
Take advantage of a host of additional member services available. See our Available Services page for more details. Ask any staff member for more details about joining the Credit Union, or for further information see the different sections of this web site.
If you are unsure about your documentation, or still have other questions, we will be happy to answer any questions you may have.
