insurance on loans

Newry Credit Union offers its Members free life insurance on loans. This is available to any Member who is actively in work or is in good health when the loan is granted. All loans must be paid in full before the Member’s 80th birthday.

  death benefit insurance

Death Benefit Insurance is available to anyone who is in good health and who joins Newry Credit Union in advance of their 70 th birthday.

The vast majority of our Members avail of this insurance scheme and we strongly encourage new Members to sign up.

What is DBI?

DBI provides £2,000 of insurance cover to a Member’s next of kin in the event of their death. The annual premium for the insurance is £14.59.

This is taken from Member's shares provided they have at least £20 in their account. .

What if I don't have enough shares?

If you wish to be part of the DBI scheme, but don’t have enough shares in your account you can call into the office and pay the premium over the counter by end of November at the latest.

I don’t want to be part of the scheme – what do I do?

The reason we encourage Members to be part if the scheme is that we have seen first hand how it has helped many local families. However, if you don’t want to avail of the DBI, notify us in writing and we will ensure that no premium is deducted from your account.