X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BASKING RIDGE, N.J. – Affinity Federal Credit Union has joined forces with American General Assurance Company, an American International Group member company, to offer members debt protection programs. With AGAC serving as program administrator, members will now be able to protect their loans with life, disability and involuntary unemployment products. Debt protection agreements are two-party contracts between the credit union and the member in which the credit union agrees to defer the required monthly payments and waive finance charges for a fixed period and/or cancel outstanding debt in the event of certain predefined occurrences. Debt protection programs cover such events as death, disability, divorce, leave of absence, hospitalization, critical illness, stay at a skilled nursing facility and unemployment. The $1.3 billion credit union also plans on introducing debt protection through its CUSO CUMAnet during the second quarter of 2004. American General Assurance Company (AGAC) has been designated as NAFCU Services Corporation’s (NSC) Preferred Partner for Debt Protection program administration since May 2002.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.