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Historically CUNA Mutual Group has provided credit union pay insurances such as Loan Protection and Life Savings Insurances and Fidelity Bond cover. All ABCUL credit unions and their members benefit from these products.
In recent years they have developed a range of member pay products called Credit Union MEMBERS Financial Services which consists of home, motor, travel insurance, term life cover and a health cash plan. Payment Protection insurance is also available, this means that if you have an accident or illness or are made redundant your loan payments will be covered*.
Loan protection insurance is designed to pay off a member’s outstanding loan balance if they die before their loan is repaid*.
Life Savings insurance means that if a member dies, the savings that they have in the credit union are up to doubled and passed onto their family*.
Joint life savings cover allows partners to save together with the knowledge that the plan will pay out on the death of the first person on the joint savings account*.
The Fidelity Bond provides credit unions with insurance against fraud or theft from the credit union*.
Payment Protection Plan pays your credit loan repayment should you be unable to work due to sickness, accident or unemployment*.
The Family Protection Plan allows you to protect yourself and up to five members of your family so that, in the event of a death to any of the people on the plan, a cash lump sum is paid out*.
Credit Union MEMBERS Financial Services is a range of insurance products exclusively packaged and priced for credit union members. The range consists of:
- Life Assurance
- Health Cash Plan
- Motor Insurance
- Home Insurance
- Travel Insurance
To find out which products your credit union offers, and for further information, please contact your credit union, you can visit the credit union search section to find a credit union you can join.
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