Sometimes the unexpected happens. That's why we offer short-term financial assistance to members in emergency situations. Emergency situations are defined as housing expense or repair, auto repair/part replacement, funeral expense, urgent medical expense, or legal assistance. Situations that arise as a result of short-term loss of work or temporary reduction of hours may also be covered. This loan is a more favorable loan than what is available at a payday lender.
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 the unexpected can happen at anytime. You’re betting you won’t lose your job (through no fault of your own), or become disabled (due to injury or illness), or pass away, leaving your family responsible for your loan balance. Life events can cause financial hardship, making bill-paying difficult. You don't want delinquent payments and defaulted loans to cause you to lose your assets, negatively impact your credit rating, or cause financial distress for your family.
CFCU Safety Net* 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 occurs. And, simple eligibility requirements ease the enrollment process.
If your loan is protected and a life event happens to you, CFCU Safety Net* will cancel or reduce repayment of your loan debt - helping to lessen 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:
Life Plus adds protection for financially-stressful life events such as accidental dismemberment, terminal illness, hospitalization, family medical leave, and the loss of life of a non-protected dependent.
Because each member has different needs, we offer three different options for protection with CFCU Safety Net:
|Signature Loan||8.15%||60 months||Calculator|
|Share Secured Loan ~||2.00%||60 months||Calculator|
|Credit Builder Loan||8.00%||60 months||Calculator|