A cash benefit on your savings
Leave your loved ones a cash lump sum when you die, with Life Savings Protection*
Saving with your Credit Union really does add up as it includes the additional benefit of Life Savings Protection, which can be a real financial comfort to your loved ones should you die.
At a difficult time, a lump sum on bereavement can be a real help. It could help towards funeral costs or could be left as a small legacy for a loved one. Of course, it won’t take away the pain but it’ll certainly help with the financial strain of bereavement. Additional peace of mind for your family is just another benefit of being a Credit Union member.
As a Credit Union member, you’re not only saving for your own future, but also for that of your family. With the added benefit of Life Savings Protection, your nest egg can also provide a legacy to help your loved ones cope financially in the event of your death.
* Subject to terms and conditions. Cover limits and certain restrictions apply based on savings balance and on age at death or age when savings were made. Individual limits and restrictions may also vary over time. Please ask at your Credit Union for more details about Life Savings Protection.
Life Savings Protection is underwritten by Covea Insurance Limited.
Covea Insurance Limited is authorised by the Prudential Regulation Authority and regulated by Financial Conduct Authority and Prudential Regulation Authority.
Protected loans to protect your loved ones
Your Credit Union loan is protected in the event of your death* – helping protect your family from the financial burden of bereavement.
When you take out a loan with us you also get Loan Protection. If you were to die before your Credit Union loan is repaid, this protection can help towards settling the debt, so that it isn’t passed on to your loved ones.
Of course, it won’t take away the pain but it’ll certainly help with the financial strain of bereavement. This benefit is included at no extra cost to you as part of your Credit Union loan arrangement* so just for once, peace of mind doesn’t cost the earth; it’s just another benefit of being a Credit Union member.
As a Credit Union member, you’re not only borrowing for the things you desire to make life more comfortable for you and your family; by choosing your Credit Union to borrow from, you’re helping your Credit Union provide better value loans for all Credit Union members. With the added peace of mind provided by Loan Protection, loans from your Credit Union can offer better financial security for you and your family.
*Subject to terms and conditions. Cover limits vary and certain restrictions apply based on age and cover. Please ask at your Credit Union for more details about the individual limits and restrictions of Loan Protection.
Loan Protection is underwritten by Covéa Life Limited.
Covéa Life Limited is authorised by the Prudential Regulation Authority and regulated by Financial Conduct Authority and Prudential Regulation Authority.
In association with Cuna Mutual Group.
CUNA Mutual Group Limited
CUNA Mutual Group Limited is authorised and regulated by the Financial Conduct Authority.
You can pay in as little as £2 per week but you need to keep a minimum of £5 in your account to keep it active.
The maximum amount that a member can currently save is £10,000.
Members can withdraw from their savings account online, over the phone and in one of our branches.
*Please note that from 1st of October 2020 Right Way Credit Union will be limiting the amount of share withdrawals from a member’s S1 account to thirteen per year. For more information, please contact the office by emailing firstname.lastname@example.org
Online/Telephone share withdrawals will be paid into members nominated bank account, this is the account that the credit union have on file for you. If you wish to check this information before requesting a share withdrawal you can call the office on 0141 889 7442.
Please note: Share withdrawals will not be processed If you do not have a nominated bank account. If you need to update or change your nominated bank details please call the office on 0141 889 7442.
Share withdrawals can only be actioned by the account holder, should you wish to register a Power of Attorney please see links below as guidance on what legal documentation we will accept.
When you have a loan running your savings are held as security against your loan, this means that no share withdrawals can be processed whilst your loan balance is higher than your savings balance, for more information please send us an email to email@example.com
Yes. Right Way Credit Union is authorised by the Prudential Regulation Authority and Regulated by the Financial Conduct Authority and the Prudential Regulation Authority Firm Ref: 446350. As part of the Financial Services Compensation Scheme (FSCS) your savings up to £85,000 are safe”