The Credit Union insures members' savings and loans at no extra cost to members.
The Insurance policy is based on your age when you put the money into your savings. As long as you have not withdrawn the money since your 80th Birthday, the insurance will pay a sum to your next of kin if you die while you are a member.
Loans for all members up to the age of 70 are insured so that if you die before your loan has been repaid, your loan will be cleared in full. Certain exclusions apply - if you have a pre-existing medical condition your loan will be insured after 6 months.