Broker Check


A loan is made by the Credit Union to the Executive, which is used to buy a life insurance policy. Some common highlights of this plan are:

  • A Legal Document is prepared that outlines all of the details agreed upon between the Board and the Executive.
  • The Credit Union earns a return based on the Applicable Federal Rate (AFR).
  • Benefits are withdrawn by the Executive Tax-Free during retirement.
  • The Loan is repaid with Interest at the Executive’s Death.