Credit union scheme to protect wages

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FREE wage protection will be made available to many members of Britain’s credit unions, it was announced yesterday.

Members of credit unions in York and Hull are among those who could benefit from a policy created by CUNA Mutual.

Members of participating financial co-operatives will be able to sign up to a three-month Wage Protection policy through CUNA Mutual, at no cost.

The policy is a form of insurance which pays a proportion of the policyholder’s salary following loss of income due to acci- dent.

Paul Walsh, the chief executive of CUNA Mutual Group, said: “Many families are being squeezed financially and we are extending this offer of free wage protection to help protect consumers against life’s uncertainties, caused by an accident which could leave a breadwinner unable to make a living.

“During these uncertain economic times it is important to protect your wages.

“CUNA Mutual’s wage protection is a low-cost, straightforward insurance policy which could prove invaluable when it comes to safeguarding your lifestyle in the unfortunate event of accident, sickness of redundancy.”

Credit Union members can register at