Your Credit Union Loan is Insured

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 coverage and has signed the promissory note dies with a loan outstanding, the loan balance is paid in full by the insurer.

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 member's 70th birthday. The credit union has the option of extending this age limit to the member's 85th birthday by affecting cover under the Over 70 Rider. Disability Cover, however, ceases on the eligible members 65th birthday.

Terms and conditions apply and further information is available on request from us.

We offer many services aimed at improving access to financial services and encouraging financial inclusion.