SWBC Brings Greater Financial Protection in Oregon
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New Partnership Provides Debt Cancellation Program to SELCO Community Credit Union Members
SAN ANTONIO, TX (February 19, 2025) – SWBC is excited to announce its partnership with SELCO Community Credit Union to offer an innovative debt cancellation program designed to provide additional financial security for SELCO’s members. This program—an enhancement to SELCO’s previous coverage options—includes further protection for life events such as death, disability, and involuntary unemployment, ensuring members have peace of mind during unforeseen challenges.
The debt cancellation program covers qualifying loans, including auto loans, personal loans, and more. Eligible members can also access added benefits, such as coverage for terminal illness, accidental dismemberment or loss of sight, accidental death of a dependent, hospitalization, and family leave.
"From the easy-to-understand policy to the comprehensive coverage options, SWBC's Payment Protection is designed with members in mind," said Nick Bloxham, SELCO's Vice President of Insurance Services. "It helps us provide the flexibility and financial security that's essential during truly difficult times."
As a leader in financial protection solutions, SWBC aims to empower credit unions with tools to manage financial risks effectively by creating protection programs that can help institutions offer opportunities for their members to cancel or reduce debt, preventing undue financial burdens on them and their families.
“Partnering with SELCO allows us to extend our mission of providing tailored financial protection solutions to even more individuals,” said Joan Cleveland, President & CEO of SWBC ‘s payment protection business. “We are proud to collaborate with a compassionate credit union that recognizes the challenges people encounter and one that is committed to empowering their members to navigate life’s uncertainties confidently.”
About SWBC
As a diversified financial services company, SWBC provides financial institutions, businesses, and individuals with a wide range of insurance, mortgages, wealth management, employee benefits, and more. Headquartered in San Antonio, Texas, SWBC has partners and divisions across all 50 states and manages businesses around the world. No matter how wide its reach, SWBC always listens to our customers’ needs, analyzes their current situations, and recommends customized solutions. For more information about our innovative approach to personalized service, visit SWBC’s website.
About SELCO Community Credit Union
Founded nearly 90 years ago by a group of fiscally minded teachers, Springfield-based SELCO Community Credit Union today serves more than 150,000 members as one of the largest and longest-standing Oregon-based credit unions. A not-for-profit, federally insured, member-driven financial cooperative with more than $2.7 billion in assets, SELCO provides its member-owners with exceptional rates and low fees on a full range of financial products and services, including banking, mortgages, personal and business loans, investments, and insurance. Membership is available to anyone who lives or works in one of the 27 Oregon or eight Washington counties SELCO serves. For more information or to become a member today, stop by one of SELCO’s 15 branches, visit selco.org, or call 800-445-4483.