Loan Protection

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Loan Protection

As a benefit of belonging to Section 705 FCU, each member has loan protection up to $10,000 in the event of the borrower’s death or permanent disability. This coverage is over the member’s total outstanding loan balance, NOT each individual loan.

There is no cost to the member for this protection on or before July 1, 2005*. In the event of such an occasion, you and your family can rest easier knowing that we have provided this protection on your behalf.

*Optional insurance paid by borrower*

For a copy of the Loan Protection and Total & Permanent Disability policy or for more details about this program, contact the Credit Union.

For a low fee you can purchase Credit Life Insurance and Joint Credit Life Insurance to cover the full amount borrowed. To learn more abou this program, contact Cassie.