The income-side protection your members don't get from savings alone.
Every credit-union loan officer already walks a member through three numbers on the disclosure page — payment, term, and escrow. Payment-protection insurance belongs in the same beat: a published monthly cap the member sees before they sign, a fixed term, a refundable review window, a loss-payee clause naming the credit union. Same attach product, same moment, written from the member’s side for once.
Distribution through credit unions and credit-union service organizations — the same contract on every rail, only the closing room changes.
- The member-share slot.
- The NCUA-examiner-friendly slot.
- The audit-trail slot.
Catchfall slides into one of those three slots at the moment a member signs a covered loan — same conversation the loan officer already runs.
Three stakes a credit committee reads.
The credit-union reader is not the credit-buying desk and not the LOS admin. They are a credit-committee chair, an NCUA-facing compliance lead, or a CEO reading for member-share impact. Each of those readers lands on one of these three stakes first.
- The member-share slot.
A member who just signed monthly payments is already answering "what if I lose the income" with savings. Catchfall answers the same question for the loan itself — the monthly bill stays paid while earned income is off, without dipping the member-share into emergency mode.
- The NCUA-examiner-friendly slot.
Exclusions written inside the body of the declaration page, not appended as an endorsement the member has to ask for. The opt-in receipt is a separate document the examiner can request without unspooling the loan note — same posture the credit committee already expects.
- The audit-trail slot.
Every signed policy writes a loss-payee clause naming the credit union as first payee on covered debts. Lender-side compliance sees the opt-in receipt, not the policy — separate documents, separate filing lanes, no reconstruction at exam time.
Four facts on the page before they sign.
Each is named on the declaration page the member actually receives. The cover lines borrow the same labels you already see on the storefront — consistency for the member and for the credit committee that signs off on rollouts.
- A published monthly cap, per debtThe member sees the worst-case monthly payout before they sign. No "up to" formulation, no discretionary re-rating at claim — the same number the credit committee sees is the same number the member sees.
- A fixed term they pick at sign-upKnown number of months named in the policy — not "up to" or "as needed." The member multiplies the cap by the term and knows the exposure before they commit.
- Refundable review windowCancel inside the named window for a full premium refund. No cancellation penalty, no "service-fee" carve-out. Call your credit-union-side claims desk and they walk the member through it.
- Plain-language exclusions on the declarationVolunteer resignation, termination for cause, and pre-existing-condition carve-outs are spelled out on the page the member actually receives. Long-established industry norms, written from the member side for once.
Three steps. Same as the disclosure, same as the membership pitch.
- 01
Price on the disclosure page
Surface the member's loan amount, the term, and the cover line — show the cap and the premium per $1,000 in a single card on the disclosure the member already reviews.
- 02
Present at the member touchpoint
Side-by-side with whatever the member is already signing — at the loan officer desk, or in the digital LOS at the moment the member reviews terms. Same conversation, no new pitch script required.
- 03
Member opts in
Cover is never auto-attached at signing. The member opts in; the policy writes the same day; the loss-payee clause names the credit union as first payee on covered debts.
No bundling, no appended endorsements, no offshore claims IVR.
Payment-protection insurance has a decade of supervisory-action history behind it. The pillars that kept pulling lenders into complaints were auto-bundling at signing, opaque carve-outs in appended endorsements, and lock-in windows that didn’t refund. Catchfall is built the opposite way — three guarantees, written into the declaration the member actually receives, examineable in a single read.
Low attach rate, fully resolved loss-payee clause.
The section a credit committee reads. Even at modest attach rates, every signed Catchfall policy writes a loss-payee clause that names the credit union as first payee on covered debts — the kind of coverage the examiners look for at the next supervisory cycle.
Attach rate is the question every credit-union rollout starts with, and honestly: payment-protection attach rates run lower than the warranty or GAP attach rates the credit-buying desk is used to. The trade the credit-union reader is evaluating is whether the loan-book protection that comes from a fully-structured cover line compensates for a lower member opt-in. The answer is yes, because every signed policy writes the loss-payee clause into the member’s loan documentation, regardless of the size of the attach pool.
- The credit union is named first payee on covered debts in every signed policy.
- The opt-in receipt is a separate document from the policy — separate filing lanes, no reconstruction work at exam time.
- The loss-payee clause is written into the body of the policy, not appended as an endorsement.
One inbox. Five fields. The same reply you'd want on a real credit committee.
Tell us the loan book, the member-side origination flow you already run, and what’s stopping you from attaching Catchfall today. We read every one — same inbox as the dealer-page leads, signed by a person on the team.