Loan Protection Insurance means that if a member passes away with an outstanding loan balance, the balance is repaid in full and doesn’t carry over to their dependents. Terms & Conditions apply.

First Tech Credit Union provides loan protection insurance at no cost to our members. This insurance covers loans to the value of €70,000 where the term of the loan expires prior to the members 70^th birthday. Loan protection insurance of €30,000 is in place where the term of the loan expires between the members 71^st and 80^th birthday. There is no insurance protection in place for loans where the term of the loan expires after a member’s 80^th birthday. To qualify for this insurance members must be in good health and fit to carry out their normal duties at the date the loan was approved.

If a member with an outstanding loan balance dies, the balance is repaid in full subject to terms and conditions. Essentially this means that you can borrow from your credit union in the full confidence that your dependents will not be obliged to repay the outstanding loan balance in the event of your death.

*Only the first named party to a joint account is covered for insurance purposes. Other Terms and Conditions apply.