Debt Protection

Help protect your loan. Help preserve your standard of living.

Call Mid-Illini at 309.663.2063 and ask about protecting your loans today.

Are you taking out a loan to make home improvements or buy a vehicle? You should take steps to protect you and your family in case something unforeseen happens.

You're betting you can pay back your loan and you won't lose your job (through no fault of your own) or become disabled (due to injury or illness), or need to take family leave, or pass away, which could leave your family responsible for your loan balance.

Mid-Illini Borrower Security Debt Protection is a voluntary loan-payment protection product designed to help you get relief from loan payments if a protected life event unexpectedly happens to you.

Disclosure: Your purchase of Mid-Illini Borrower Security Debt Protection is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative or refer to the Member Agreement for a full explanation of the terms of Mid-Illini Borrower Security Debt Protection.

You may cancel the protection at any time. If you cancel protection within 30 days, you will receive a full refund of any fee paid.

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Loan Protection

What would happen if you were unable to work? Who would make your auto loan payment?

What if you passed away unexpectedly? Who would be responsible for the rest of your loan?

With Loan Protection from Mid-Illini Credit Union, you won’t have to worry about any of those things! For as little as the cost of your daily Starbucks fix, you can purchase the extra protection you need to make sure your loans will never become a burden because of an unexpected event.

Here’s the best part; because Mid-Illini is a member-owned, not-for-profit cooperative, it costs less to buy Loan Protection from us than it does from the other guys.

For-profit financial institutions fold the entire cost of loan protection cost into the principal of the loan, meaning you must pay interest on the entire amount.

But not at Mid-Illini. Here, we only charge interest on the monthly premium, which drops as you make payments on your loan. The same loan protection for less money? That’s different – and different is better here at Mid-Illini.

Call 309.661.1166 today and ask about adding loan protection to your Mid-Illini loan. It’s one less thing for you to worry about.