Death Benefit Trust
Grant Applications in the Event of a Member's Passing
Affiliated Members of UKCU are eligible to sign up for the Death Benefit Trust. For an annual subscription, the Trust allows credit unions to apply for grants in the event of a members death. Grants are available to cover the cost of an outstanding loan balance or pay out a percentage of the members shares.
If one of your junior members or members’ children dies, then you can apply for a one off grant payment of £1,000 to go towards funeral costs. The child must be aged under *16 years of age (if they are not a member in their own right the parent/guardian must be an active credit union member).
It is important to note that the Death Benefit Trust is not a form of insurance and all payments are granted at the discretion of the trustees.
*a disabled adult who is deemed to be a child will also be considered for a grant payment