Loan Protection Insurance

FAIRshare Credit Union is making changes to the provision of free Loan Protection insurance, effective from 1st October 2016.

Why is this happening?

For a number of years FAIRshare Credit Union has offered free insurance on loans.  In order to continue to safeguard the provision of our core credit union services to all our members, a decision has been taken by the Board of Directors to withdraw the provision of free Loan Protection insurance on members’ loans.

What are the changes?

Free Loan Protection insurance, currently provided by FAIRshare to members with outstanding loans, will cease from 1 October 2016.

Does this affect me?

If you currently have an outstanding loan that is due to mature on or after 1 October 2016, you will no longer be covered by free Loan Protection insurance provided by FAIRshare.

What do I need to do?

If you currently have an up-to-date loan with us then you should consider whether you wish to purchase your own Loan Protection insurance from an independent provider.  FAIRshare is unable to offer this service.  In doing so, you can ensure that your loan is paid off in the event of your death.

If you would like to speak to someone about these changes, please call us on 01952 200200 or ask in branch.