Lending
Excellence in Lending Award

For a chance to win a trip to CUNA’s Lending Council Conference, submit your 2014 lending initiative by Sept. 18. 

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Debt Protection reduces your credit union’s risk by helping members avoid missing loan payments and providing you with another source of non-interest income.

Debt Protection for consumer, credit card, and home equity loans is an agreement between a member and a credit union that if the member dies, becomes disabled, becomes involuntarily unemployed or takes unpaid family leave, the agreement may cancel all or a part of your members' debt up to the benefit maximum.

Support your credit insurance program with Lender Development Program®resources that include online reports, live and on-demand training, discussion boards, job aids and more.

Find valuable product information, educational opportunities and compliant member-facing marketing materials here.


What’s in it for you?
  • Business-building benefits. Requires no insurance licensing; safeguards your loan portfolio by helping prevent loan defaults; generates member-friendly non-interest income; allows you to select the appropriate features, benefits and pricing to meet members' needs
  • Comprehensive support. Quick and collaborative implementation; product education and training; online claims submission and inquiry; $1 million indemnification protection; compliance expertise; regulatory advocacy and more
  • Offer members flexible program parameters. Election can occur any time during the loan; no need to ask health questions (although these are available); Acts of War coverage included on loss of life and disability packages; protection on loans with terms of more than 120 months; no eligibility age limits versus 66 on competitive products; 25-hour workweek minimum for eligibility versus some competitors' 30-hour requirement
  • Greater efficiency. LOANLINER® Document Solutions and loanliner.com® lending technologies can incorporate the debt protection sale into the loan application for a seamless member experience; Lender Development Program® approaches bring consistency to product offerings in each lending interaction
 
 
 
* “Facts from LIMRA 2013 Disability Insurance Awareness Month”, LIMRA, 2013

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CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates.