If you've got an outstanding loan or credit card balance, Payment Shield Plus can be a powerful safeguard. It may help by canceling your loan or credit card payments if you become disabled or involuntarily unemployed. And it may give your family peace of mind by canceling your loan or credit card balance in the event of your death.

How it works

  • Cancels your monthly loan or credit card payments for up to 6 months or $3,000 if you're involuntarily unemployed.
  • Cancels your monthly loan or credit card payments for up to 12 months or $12,000 if you're disabled by a covered illness or injury.
  • Cancels your outstanding loan or credit card balance up to $75,000 in the event of your death.1
  • Protects an additional borrower per loan at no additional cost.
  • Enroll at any time during the term of your loan.

Things you should know

Option You Elect Cost Per $1,000 Of the Monthly
Outstanding Loan Balance

Option 1

  • Involuntary Unemployment
  • Disability
  • Death

Option 2

  • Disability
  • Involuntary Unemployment

Option 3

  • Disability
  • Death

Option 4

  • Disability

Option 5

  • Death


Call (800) 462-8328, ext. 4389

Monday through Thursday, 9 a.m. – 5 p.m.
Friday, 9 a.m. – 6 p.m.
Saturday, 9 a.m. – 3p.m.


Contact an agent by sending an email to



  1. If the outstanding loan balance is greater than $50,000, the rate will not be applied to the amount that exceeds $50,000. Loss of Life will provide 25% of the protected balance or $12,500 (whichever is less) after the last day of the month the protected individual reaches age 70.

    Enrollment in the program is voluntary and not required to obtain a loan. Payment Shield Plus is a debt cancellation product available through SchoolsFirst FCU. It is not insurance, not a deposit, is not federally guaranteed by NCUSIF, and is not underwritten or guaranteed by SchoolsFirst FCU. Please consult a SchoolsFirst FCU loan specialist or refer to the Payment Shield Plus contract for additional information on benefit maximums, eligibility, and limitations.

    Your purchase of Payment Shield Plus 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 Payment Shield Plus. 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. DP-2230793.1-0918-1020.

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