Website revamp in progress, please use the contact us link above to let us know your thoughts on website content and general site design.
Member Balance Enquiry, you will be able to log in to this website to get up-to-date share and loan balances.
At this year's AGM our members agreed a 2% dividend on ALL instant savings accounts
Credit unions have taken advantage of their united strength by providing loan protection insurance cover and life insurance benefits on savings for their members through Cuna Mutual Insurance Group, which is owned by the credit union movement.
This protection is provided by Caledfryn at no extra cost to its members.
Caledfryn pleased to be able to offer our members a great new insurance product : MortgageCover+.
Full details below about this great new product offering from Caledfryn Credit Union, click here to be taken there directly.
When you save with our Credit Union, your shares have the benefit of providing free life insurance. The level is subject to age (see below) and proportionate to the amount saved. The benefits are payable only on the death of a member.
Our Credit Union pays the premium for this protection out of our profits so there is no individual cost to you. This is an additional incentive to save regularly knowing that your savings bring this further benefit.
If you are saving with our Credit Union and you are under 70 years of age, you are eligible for this life (savings) insurance.
Every £1 you save with our credit union gives a benefit of:
The amount of insurance benefit depends on your age when you save your money. For example, if you have savings of £100 before reaching 65 years of age and do not withdraw any, then when you reach 66 years of age, you will still enjoy the 100%. If you withdraw some of that savings at 66 years of age, the balance of your original savings would now still receive the 100% but any future savings would enjoy 25% benefit until you reached 70 years.
In other words, providing you are under 70 years of age and continue saving with your credit union then you will receive free life insurance.
Again free life insurance cover on all loans is available to our members until they reach 70 years of age. If a member dies the debt is cancelled and repaid to the credit union by the insurance cover.
This cover stops when the member reaches 70.
Both the savings and loan protection insurance contracts carry a 6 months pre-existing condition limitation (PCL) as standard. Each new share (savings) deposit a member makes or each new loan agreement a member enters into is governed by the 6 month PCL.
CUNA Mutual Group will not pay benefit on a member’s outstanding share balance or loan agreement if death results from a pre-existing illness or injury for which medical advice, consultation or treatment was received within 6 months prior to making the share deposit or taking out the loan agreement.
This PCL lasts for a period of 6 months from the start date of each share deposit or loan agreement. If a member dies 6 months or more after the date of the share deposit or commencement of the loan agreement, this rule will not prevent payments.
Other insurance products
CUNA Mutual Group has negotiated other insurance products for credit union members and we can provide contact details for quotations for these.
Members Services, as it is known, can provide motor, holiday, health, travel and we would encourage you to get a quotation to see how it compares with other prices you get, If you take out one of these, Caledfryn receives a commission.
Caledfryn pleased to be able to offer our members a great new insurance product : MortgageCover+.
MortgageCover+ is an affordable Mortgage Payment Protection Insurance policy which can provide real peace of mind should illness, an accident or involuntary unemployment befall you.
MortgageCover+ is designed so that you can arrange and only pay for the cover you need. The amount you pay is calculated per £100 of cover you require and your monthly premium will depend on the amount of cover you need and the policy options you choose.
Click on the banner below to be taken to the CUNA Mutual Insurance (Europe) Ltd web site for a quick quote!
* The link will open as a new web window - please note that Caledfryn Credit Union can not be held responsible for the content of this external site."
