Payment Protection
Ease your loan payments, protect your family, and safeguard your credit rating. Payment Protection offered by Digital Federal Credit Union helps relieve the financial stress and worry related to making loan payments when your life takes an unexpected turn.
Your loan payment* will be cancelled for a period of time without penalty, added interest, or being reported as delinquent to the credit bureau when one of the following covered events occur:
- Death – gives your family time to get back on its feet financially.
- Disability** – helps you avoid bills piling up as you try to regain your health and earning capacity. Use as a supplement to any disability coverage you may have at work (which usually covers only 60 percent of pay).
- Involuntary Unemployment** – gives you assurance during a difficult time that one of your major monthly expenses will be taken care of as you search for new employment.
- Family Medical Leave – helps your family with a major expense during what is often an unusually hectic time – a leave from your job for family or medical reasons.
- Hospital Stay – provides peace-of-mind and one less worry while you're in the hospital.
*Digital Federal Credit Union Payment Protection is available for closed-end consumer loans if the loan has a term of 120 months or less and credit cards.
**For Disability and Unemployment benefits, covered borrower must be gainfully employed outside his/her residence for at least 30 hours per week.
**For Disability and Unemployment benefits, covered borrower must be gainfully employed outside his/her residence for at least 30 hours per week.
Please consult with one of our loan representatives to discuss the Payment Protection program in more detail. Or, call us at 508.263.6700 or 800.328.8797.
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Digital Federal Credit Union
220 Donald Lynch Boulevard PO Box 9130 Marlborough, MA 01752-9130 508.263.6700 • 800.328.8797 |
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© 2008. Digital Federal Credit Union