Supporting the growth of the credit union movement
AT THE Credit Union National Association (CUNA) Caribbean Insurance, our goal is to provide financial solutions to those that need it the most. Born out of the overarching philosophy of our parent company CUNA Mutual Group, our belief that ‘... the debt shall die with the debtor’ has created a symbiotic relationship with the Credit Union Movement affording more than two million credit union members across 12 countries in the Caribbean, access to insurance products designed specifically for their needs.
Our ability to support the growth of this close-knit community is paramount to our success as an insurance provider. This, of course, is hinged upon our longstanding partnership with the Credit Union Movement and our understanding of their unique needs. Credit unions are focused on driving membership growth, which in turn rebounds to direct benefits to their members. As a strategic partner, CUNA Caribbean Insurance has taken many strides to support this growth by developing simple, easy and low-cost insurance products that credit union members can enjoy. With products such as our Life Savings, Loan Protection and Family Indemnity Plan insurance, credit unions have enhanced their service offerings and created countless opportunities for members to realise some of life’s significant milestones, including homeownership, access to quality education, and entrepreneurship, to name a few.
Our insurance products provide benefits that are unmatched by other providers. With our low-cost insurance solutions, a little goes a long way to help credit union members create a life for their families that is financially secure. Our Family Indemnity Plan is just one example of this. For only one premium, credit union members can cover final expenses for themselves and up to five eligible family members. Compared to other insurance products which limit coverage to the owner of the plan, our Family Indemnity Plan provides members and their families with financial resources at the time they need them the most.
Our capacity to deliver on our critical services to our customers is made possible by the contributions of organisations such as the NCB Employees Cooperative Credit Union.
As our sales manager, Phillipa Beckford, would attest, “The NCBECCU has always been an avid partner of CUNA Caribbean Insurance Jamaica Limited (previously CMFG Life Insurance Jamaica) for many years. They have contributed many ideas which we have incorporated into our products, all of which they have embraced and continue to offer to their membership. The organisation has done exceptionally well, receiving many accolades over the years in the areas of product development and performance.”
Vice-president of sales, products and branding, Lana Forbes, states: “On behalf of the CCIJ team, we congratulate the NCBECCU on celebrating 25 years of service to their members and the credit union movement in Jamaica. This is a truly incredible milestone for the organisation, and we are very excited to continue our partnership with them for years to come.”
As CUNA Caribbean Insurance continues to work assiduously to strengthen our capacity to serve our credit union partners, we are implementing systems and processes to optimise our operations and improve the quality of our products and responsiveness to market demands. At present, we are developing programmes and initiatives that will afford more credit union members access to our products. Coupled with a revamped market presence, it is hoped that these initiatives will create more awareness about our products while also highlighting the benefits of the credit union system as we continue in our commitment to support the movement’s thrust to drive membership growth.