Payment Protection Insurance for Loans

Security Incident Update

Patelco Credit Union has restored many service capabilities for our members, including the Patelco Mobile App and online banking. Please visit the Security Incident Updates & Information Center for the latest information.

Protect Yourself from Fraud sasa

Remain vigilant for suspicious communications and Patelco phone number spoofing. Our Patelco team will never reach out to you directly to ask for your card details or online banking login.

Online banking and Mobile App scheduled maintenance

The Mobile App and online banking will be briefly inaccessible or slower than usual between 10:30 – 11:30pm PT as we do scheduled maintenance.

Payment Protection Insurance

Life can be wonderful. But it can also get complicated when unexpected things happen.

Payment Protection¹ is a simple and budget-friendly way to protect your family and help ensure your credit cards, auto loans, or personal loan payments are maintained if you become unemployed, disabled, or pass away. This protection could cancel your loan balance or payments up to the contract maximums.

Life Plus is an optional add-on to Payment Protection, which adds additional 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.

Key Features

Protect Your Payments and Debts

Available on auto loans, personal loans, and credit cards

Comprehensive Coverage

Full monthly payments may be cancelled, up to contract maximums

Life Plus Added Protection

This optional add-on gives even more protection for accidental dismemberment, terminal illness, hospitalization, family medical leave, and loss of life of a non-protected dependent

Affordable Protection

Only pay coverage for what you owe, cancel anytime

Frequently Asked Questions

Coverage depends on many variables. Simply schedule a Zoom appointment or visit one of our local branches to learn more about Payment Protection for your Patelco credit card, auto loan, or personal loan.

As your balance decreases, so do your costs. Plus, if you pay off your credit card balance before your billing cycle date, you don’t pay anything for Payment Protection.

In the event of a death of the protected borrower, it will cancel up to the contract maximums if you have an eligible auto loan, personal loan, or credit card.

If a covered disability occurs due to injury or illness when you are a permanent employee who is actively working, your loan payments will be canceled up to the contract maximums.

If a covered job loss occurs when you are a permanent employee who is actively working, Payment Protection will cancel your loan payments up to the contract maximums.

Let’s have a conversation

At Patelco, we put your financial wellbeing first and provide free financial coaching with a Patelco Certified Financial Specialist.² Your financial specialist can help you create a personalized strategy so you can feel in control of your money and track your progress.

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Payment Protection Insurance

Flexible Coverage

Affordable Protection

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Payment Protection Insurance