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Tel: 0141 445 0022 Fax: 0141 440 2294 Email: admin@nhscreditunion.com

04 July 2015
Extra peace of mind - at no extra cost

As a member of the NHS Credit Union you have access to savings and loan protection bereavement schemes - giving extra peace of mind for members and their families - at no extra cost.

Free Loan Protection *

Loan Protection is a free safeguard offered by the NHS Credit Union as a benefit to members. Your loved ones can be secure in the knowledge that your NHS Credit Union debt (up to a maximum of £15,000) can be paid off, giving them peace of mind at a difficult and uncertain time.

It is a financial benefit provided on all applicable loans to ensure that, when your family most needs it, your debt is paid off.
Loan Protection is provided as a member benefit by the NHS Credit Union. It is free to every member, subject to the terms and conditions.

However, it should be remembered that the terms of this free member benefit may change from time to time. The applicable rates / amounts covered are those prevalent at the date of death.

With effect from June 1, 2015, the relevant details are:

Age when loan taken out

Loan Term Limit

Limit

18-79

7 Years

£15,000

NB: Individual members do NOT have an insurance policy – they share in a free benefit offered by the credit union.

*Terms and conditions apply

 

Free Life Savings Protection *

Life Savings Protection is a free safeguard offered by the NHS Credit Union as a benefit to its members. In the event of your death, it provides your family with a single lump sum payment which can help them cover funeral - and other - expenses.

Life Savings Protection is designed to reward your family for your commitment to save … and provide them with financial support when they most need it.

The value of this payment is directly linked to your savings, so the more you save, the higher the payment. Up to a maximum of £3,000, every £1 in savings can be matched by £1 of benefit.

However, it should be remembered that the terms of this free member benefit may change from time to time. The applicable conditions are those prevalent at the date of death.

With effect from June 1, 2015, the relevant details are:

 

Age at time of deposit

% of Saving Balance

Limit

16-65

100%

£3000

66-69

25%

£3000

In addition, it should be noted that individual members do NOT have an insurance policy – they share in a free benefit offered by the credit union.

*Terms and conditions apply

 

The schemes are underwritten by Sterling Life Limited. Sterling Life Limited is authorised by the Prudential Regulation Authority and regulated by Financial Conduct Authority and Prudential Regulation Authority.

In association with CUNA Mutual Group Limited

CUNA Mutual Group Limited is authorised and regulated by the Financial Conduct Authority.

NHS Credit Union Limited Tel: 0141 445 0022 Fax: 0141 440 2294 Email: admin@nhscreditunion.com Web: http://www.nhscreditunion.com
NHS (Scotland & North England) Credit Union Ltd is Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. ‘NHS Credit Union Ltd’ is a registered trading name of NHS (Scotland & North England) Credit Union Ltd.