Insurance

As a member, you and your family receive the benefits of two important insurance products. Both are provided at no direct cost to you!

Loan Protection Coverage

This plan is designed to pay off or reduce the unpaid balance of your loan(s) upon your death. A maximum of $150,000 can be paid.

Eligible members with loans of $77,000 and higher and members aged 50 years and over must take a medical examination to participate in this plan.
Under this plan, disability claims are also covered up to a limit of $27,000.
With Loan Protection coverage, you no longer have to worry about your family paying off your loan in the event of death or permanent disability.

Benefits

Our fixed deposits offer some of the highest guaranteed rates of return.
Earn more as you save more and for longer periods
Can be used as collateral for loans

Life Savings Insurance

Our Life Savings Insurance plan allows your beneficiary to receive life insurance based on your insurable savings balance.

Coverage is provided up to age 70.
Up to age 55, members are matched up to $20,000 of their shares.
Coverage is given in proportion to the amount saved at ages 60, 65 and 70.
If you qualify, each deposit made to your Share Savings account earns life insurance benefits.

Contact a Branch for further information on these plans.

Note: All members/depositors are required to complete a Declaration of Source of Funds (DSF) form for ALL deposits of $10,000 and over, or on any lesser amount as determined by the Credit Union.

Loan Protection Coverage

Benefits

Life Savings Insurance

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