CARLSBAD, Calif. – Credit union-owned XCU Capital has selected CUNA Mutual Group's debt cancellation product as its recommended program to help protect its partner credit unions and members from loan delinquencies, charge-offs and collection costs. Debt cancellation is a two-party agreement between a credit union and its member, where the borrowing member pays a fee to the credit union in exchange for the ability to have the debt cancelled or deferred, if specified life events such as death, disability, involuntary unemployment, call to military action, or other events that have a financial impact occur, but are not covered under traditional credit insurance programs. "Our partner credit unions are looking forward to a strong relationship as debt cancellation is a real need for them," Bob Hyder, executive vice president, Focus Insurance, XCU Capital's wholly owned subsidiary. "They find it especially attractive because unlike credit insurance, the program can be designed to meet each credit union's individual and unique requirements."