No, all insurance benefits are complimentary for our members and paid as an operating expense by the Credit Union.

Whilst you are welcome to deposit a total of £15,000 into your share account, a maximum deposit of £1000 monthly is permitted. Lump deposits larger than this will be returned.

Any share withdrawals will impact the amount you hold in life insurance. To be eligible for Death Benefit Insurance worth £1500, members must hold at least £100 in their share account. If you are considering making a withdrawal from your share account and would like more information on the impact this may have on your life insurance, please contact a member of staff in the office on 02890309770.

Teachers' Credit Union advises all members to complete a Nomination Form which can be held on file and attributed to your account. A Next of Kin nomination is your opportunity to name the person, or persons, you wish to receive your shares, and any insurance attached to them in the event of your death. This money is generally paid directly to your nominee.

It is vital that you ensure your preferred Nominee is up to date, if you would like to check who you have nominated to receive your shares and insurance benefits, please contact a member of staff in the office on 02890309770.