At IBEW Local 56 Federal Credit Union, we have loans for all your life plans. Whether you're buying a new or used vehicle, making home improvements, funding a college education, planning a wedding, or taking a vacation by land, sea, or motor home, call us first to make good things happen. And don't forget about refinancing! We can refinance many of those high-priced loans you have at other financial institutions. Here are the loans available for our members:
Credit Disability & Credit Life Insurance
There's no way to predict an injury, illness or an unepected death, but you can take steps along the way to make sure your family is provided for if the unforeseen were to happen to you. Members Choice Credit Disability and Credit Life Insurance may help make your loan payment so your loved ones don't have to.*
The premium is included in your monthly payment. If you have a balance on your loan and are totally disabled due to a covered injury or illness or in the event of your unexpected death, Members Choice Credit Disability and Credit Life Insurance may help.*
Members Choice Credit Disability and Credit Life Insurance work in two different ways. You and your family may not have to make loan payments if you are totally disabled due to a covered injury or illness. It may help pay your loan until you're no longer totally disabled, or in the event of your unexpected death, it may help pay off the loan.* Savings, salary, or payoffs from other life insurance may be used for other important things, giving your family financial freedom when they ned it most. Ask about these coverages when you apply for your loan.
*Up to your policy maximums; per terms and conditions and exclusions on your Credit Insurance Certificate.