Life Happens. We get it.

Financial Wellness

Life can be wonderful, but it can also get complicated when unexpected things happen. You are not alone, thats why we want to take the right steps towards improving your financial wellness.

Some Ways We Can Help You:

Other Things We Offer: 

Payment Protection

Life can be wonderful. But it can also get complicated when unexpected things happen. Protecting your loan balance or loan payments against death, disability, or involuntary unemployment could help protect your finances.  This protection could cancel your loan balance or payments up to the contract maximums.

Life Plus adds protection for life events such as accidental dismemberment, terminal illness, hospitalization, family medical leave, and the loss of life of a non-protected dependent. Protect your loan balance or loan payments today so your family can worry a little bit less about tomorrow.

Purchasing protection is voluntary and won’t affect your loan approval. It’s simple to apply. Ask today about eligibility, conditions, or exclusions.*

Payment protection is an optional coverage that can be added at the time of receiving the loan or at any period during the life of the loan.  There are no medical assessments to qualify.  Ask about payment protection today!

Your purchase of Payment Protection with Life Plus is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply.

*Please contact your loan representative or refer to the Member Agreement for a full explanation of the terms of Debt Protection with Life Plus. You may cancel the protection at any time. If you cancel protection within 30 days, you will receive a full refund of any fee paid.

Guaranteed Asset Protection (GAP)

If your vehicle is totalled, your insurance company may only pay what the vehicle is worth - which is often less than what you owe on your loan.  What happens to the remaining balance on the loan?  GAP can protect your loan against the unforeseen, by cancelling the difference between the vehicle's value and the balance of your loan.

Debt Protection Stats

Your purchase of Guaranteed Asset Protection (GAP) is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan.  Certain eligibility requirements, conditions, and exclusions may apply.  Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms of GAP. If you choose GAP, adding the product fee to your loan amount will increase the cost of GAP.  You may cancel the protection at any time.  If you cancel protection within 90 days you will receive a full refund of any fee paid.  You will receive additional information before you are required to pay the fee for this product.

Your purchase of Payment Protection is optional. Whether or not you purchase Payment Protection will not affect your application for credit or the terms of any existing credit agreement you have with Saratoga's Community Federal Credit Union.  We will give you additional information before you are required to pay for Payment Protection. This information will include a copy of the contract containing the terms and conditions of Payment Protection.  There are eligibility requirements, conditions and exclusions that could prevent you from receiving Payment Protection benefits. You should carefully read your Payment Protection contract for a full explanation of the terms and conditions of the Payment Protection program.

Payment Protection is made available by CUNA Mutual Insurance Agency, Inc. and underwritten by leading insurance companies.  To the extent permitted by law, applicants are individually underwritten; not all applicants may qualify.  Discounts are not available in all states and discounts vary by state.  A consumer report from a consumer reporting agency and/or motor vehicle report will be obtained on all drivers listed on your policy where state regulations allow.  The insurance offered is not a deposit and is not federally insured or guaranteed by your credit union.

Sources
1  National Safety Council, Injury Facts, 2012 Edition
2  Council for Disability Awareness, Long-Term Disability Claims Review 2011
3  Bureau of Labor Statistics, Economic News Release, February 6, 2015
4  Aflame Work Forces Report, Released April 4, 2012

Have questions? Please do not hesitate to reach out to 518.583.2323 x125 or collections@saratogafcu.org to discuss how we can assist.