Calvin,
Yes life savings & loan protection insurances have been an integral
element of the credit union model for decades. However, in their
classic form premiums for both are paid by the credit union as a group
cover from its general revenues, not as a specific fee or cost to
individual members. This is a critical difference, spreading the cost
over the total membership base, from the loan-loss protection being
imposed by MFIs on individual clients.
Greg
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Posted by: Greg Pirie <gregpirie@bluebottle.com>
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