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Safeguard your HarborOne Loan

Taking out a loan means one of your dreams is about to come true-for example, a new car, boat, or home improvement. But what happens to your dream when the unexpected hits? How can you make sure your family won’t shoulder the financial burden of making loan payments when you can’t?

Now you don’t have to lie awake at night worrying about what will happen if the unexpected strikes because…Members ChoiceTM Borrower Security* is a voluntary protection program that cancels your eligible loan balance, up to the agreement maximum, should you die before paying off your loan.

In addition, if you become disabled due to a protected illness or injury, or become involuntarily unemployed, Members ChoiceTM Borrower Security can cancel your monthly loan payment, up to the agreement maximum. With payment cancellation, both the principle and interest portion of your loan payment are cancelled (up to the agreement maximum), and your loan balance declines.

With Members ChoiceTM Borrower Security, you only buy enough protection to cover your loan balance, and that saves you money.

Other benefits include:

  • Helps protect your family, credit rating and collateral
  • Simple eligibility requirements
  • Fast and easy enrollment
  • Immediate enrollment for eligible borrowers
  • Convenient-fee can be included in your monthly loan payment

Home Equity Protection

  • Protects up to two borrowers per loan for the same fee.
  • Cancels your loan balance up to $50,000 in the event of death.
  • Cancels your monthly loan payments for up to 12 months or $12,000 if disabled due to a covered illness or injury.
  • Cancels your monthly loan payments for up to 6 months or $3,000 if involuntarily unemployed.

Payment protection: Part of a complete loan package

Members ChoiceTM Borrower Security helps protect your dreams, safeguard your family from a financial nightmare, and protect your collateral and good credit history. Ask your loan officer for Members ChoiceTM Borrower Security on your next loan.

*This is a summary of our Payment Protection program. Enrollment in the program is voluntary and not required to obtain a loan. Members ChoiceTM Borrower Security is a debt cancellation product available through HarborOne Credit Union. Please contact your loan officer or refer to the Member Agreement for additional information on benefit maximums, eligibility and limitations.