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Debt Cancellation

First Credit Union

MEMBERS Choice® Borrower’s Security Program

Help preserve your standard of living. Whether you're taking out a loan to make home improvements or buy a vehicle, it can be a financial gamble because things happen…life happens. You’re betting you can pay back your loan and won’t lose your job (due to no fault of your own), or become disabled (due to injury or illness), or pass away — which could leave your family responsible for your loan balance.

Help play it safe. MEMBERS Choice® Borrower’s Security Program* is a voluntary loan-payment protection product that helps you get relief from the financial burden of delinquency, default, or foreclosure if a protected life event unexpectedly happens to you. Simple eligibility requirements ease the enrollment process.

Ask about protecting your loan payments. If a protected life event happens to you (and you’re a protected borrower or co-borrower on the loan), MEMBERS Choice® Borrower’s Security Program will cancel or reduce repayment of your loan debt. Help lessen your worries, and your family’s worries, about paying loans during a time when your income may be reduced or lost and paying other household bills becomes challenging. Protected events include:

  • Loss of life, including those caused by acts of war
  • Disability, including those caused by acts of war
  • Involuntary unemployment

Contact a First Credit Union Member Service Representative and ask about protecting your loans, today.

*Your purchase of MEMBERS Choice® Borrower’s Security Program is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms of MEMBERS Choice® Borrower’s Security Program.

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