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Free Life Insurance

From April 1st 2020 we ended the entitlement to Life Insurance on savings. Instead, we have introduced a benevolent fund which will benefit more of our members. The named beneficiary of a deceased member will receive a lump sum of £25 per year of active membership, up to a maximum of £1500 or their average of their highest savings in the last 3 years. 

For instance, if you have been a member for 10 years and regularly saved more than £250 each year, you would leave an extra £250 on top of your savings, whatever your age at death.

However we retain the FREE Loan Protection. Any loan with (maximum balance £7,000) with Gateway Credit Union would be settled free of charge providing the member took out the loan before their 70th birthday, and has not died from a pre-existing condition less than six months after the date of the loan.

The Loan Insurance policy is subject to terms and conditions as specified by CUNA Mutual Ltd.

Gateway Credit Union 21, Commercial Street Pontypool NP4 6JQ Telephone (01495) 742500
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority 214010

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