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A Better Way to Borrow

Cy-Co FCU provides at a reasonable cost Member's Choice™ Loan Protection to eligible members. It pays off your loan if you die before the loan is repaid. The terms are $30,000 per loan for 120 months with a level monthly premium. And if you borrow jointly, we provide Joint Loan Protection that covers a co-borrower, also at no direct cost to you. There's no better way to protect your collateral and family during the emotionally and financially trying times that accompany a death.

Cy-Co FCU also provides, at a reasonable cost, Member's Choice™ Disability coverage. It pays your monthly loan payment up to $600 ($30,000 maximum), if you are temporarily disabled and can't work. Benefit payments continue until you return to work, the loan is repaid, or you reach the policy maximum. And this policy pays from the first day of disability after waiting just 14 days. Coupled with Loan Protection, it's one of the most comprehensive and reasonably priced payment protection packages anywhere.

3 Steps to Greater Security!

  1. What is Member’s Choice Credit Disability and Credit Life Insurance?
    It’s a way to help cover you and your family.  There’s no way anyone can prepare for an injury, medical-related illness or an unexpected death, but you can take steps along the way to make sure your family is provided for if the unforeseen were to happen.  Member’s Choice Credit Disability and Credit Life Insurance helps pay for your loan so you or your loved ones don’t have to.
     
  2. How does it work?
    The premium is included in your monthly payment.  If you have a balance on your loan and are totally disabled due to injury, become ill, or in the event of an unexpected death, Member’s Choice Credit Disability and Credit Life Insurance, can help.  By taking a few simple steps while signing your loan paperwork, you’re helping take responsibility for your family’s financial future.  Your loan officer can show you how.  You won’t receive extra bills or statements; everything is included in your monthly payment.
     
  3. Why is it valuable?
    Member’s Choice Credit Disability and Credit Life Insurance works in two different ways.  You and your family won’t have to make loan payments if you’re totally disabled due to an injury or medically ill.  It will help pay your loan until you’re fully recovered, or in the event of an unexpected death, it will pay off the loan (for terms of your contract agreement; up to the policy maximum).  Savings, salary, or payoffs from other life insurance may be protected, giving your family financial freedom when they need it most.

 

CREDIT LIFE INSURANCE

MAXIMUM AMOUNT OF INSURANCE $30,000
ELIGIBILITY AGE MAXIMUM 70 YEARS
INSURANCE TERMINATION AGE 70 YEARS
MAXIMUM TERM OF INSURANCE 120 MONTHS


CREDIT DISABILITY INSURANCE

MAXIMUM AMOUNT OF INSURANCE $30,000
ELIGIBILITY AGE MAXIMUM 66 YEARS
INSURANCE TERMINATION AGE 66 YEARS
MONTHLY BENEFIT MAXIMUM $600
MAXIMUM TERM OF INSURANCE 120 MONTHS
BENEFIT DURATION MAXIMUM 120 MONTHS
PLAN TYPE 14 DAY/ RETRO

 

DISCLOSURE:  Be sure to read the Credit Insurance Application and Certificate of Insurance which will explain the exact terms, conditions, and exclusions of the policy.
Only a licensed insurance agent may provide consultation on your insurance needs.  This is a voluntary insurance product.  Your financing outcome is not based on your selection of this product.  Claims may be filed electronically via Claims Online at www.cunamutual.com or by completing a Disability Claim Notice available at your credit union.  Member’s Choice Credit Disability and Credit Life Insurance are underwritten by CUNA Mutual Insurance Society.

Insurance

 



 

 

* Holiday Loans Are Available *

 

 

The credit union is now located next

to the Cornerstone Chemical Company fitness center.

 

  

 

2 New loans being offered here at the Credit Union. 

"Caring and Sharing Helps" or the Caring and Sharing Helps Too" Loan.

Click here for more information

 

© Copyright 2010 Cy-Co Federal Credit Union.