Navy Fed Contracts For DebtCancellation

January 11, 2005, 1:00 a.m. EST 1 Min Read

VIENNA, Va. - (01/11/05) -- Navy FCU said it has launched a debt'Protection Plan Program' through CUNA Mutual Group. The world'slargest credit union began offering three options under theprogram, allowing members to cancel loan and credit card paymentsand/or balances in the event of death, disability, and loss ofemployment. The cost of the plan to members is based on theoutstanding loan balance and is included in members' monthly loanpayments. The credit union enlisted 16,000 memers in the program inthe first month of it being offered.

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