Newarthill Death Benefit Fund

Full Death Certificate

Nominee ID

Member's Wallet

The total Death Benefit amount payable to each member will not exceed £5,000.

Death Benefit will not be paid to a member in respect of a deposit over £4,000 or accrued deposits over £4,000 in a credit union year.

Shares accredited after the age of 80 will not be covered by the Death Benefit Fund.

Death Benefit will not be paid in respect of any saving by a member during the 3 months prior to their death, if there was a known terminal illness at the time of deposit.

Death Benefit will not be paid to any member with under 12 months membership.

Death Benefit will not be paid if age when joined was over 65.

Death Benefit is available to all senior members under the age of 80.

Where a member is over 80, has less than 12 months membership or was over 65 when joined, any outstanding loan will be deducted from shares.

The total Death Benefit amount payable to each member will not exceed £15,000.

The Death Benefit will exclude any overdue payments.

Death Benefit will not be paid in respect of any loan granted to a member during the 3 months prior to their death, if there was a known terminal illness at the time.

In the event of the death of a junior saver, a discretionary payment may be awarded.

A nominee should carry out the member's wishes regarding any pay-out due.

If a pay-out exceeds £5,000, the surplus must be paid directly to the estate.

A nominee must be over the age of 16.