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  • Writer's pictureKelsie Papenhausen

QCash Financial Partners With TruStageTM For Payment Guard Insurance

Naperville, Ill. and Madison, Wis. (February 29, 2024) – In partnership with TruStage, QCash Financial has proudly announced the availability of Payment Guard Insurance to its credit union clients, providing portfolio coverage to potentially help prevent loans from becoming delinquent or charged-off due to covered job losses.


“We are really excited and thankful for this partnership,” remarked Seth Brickman, CEO of QCash Financial. “The TruStage team was able to tailor their existing Payment Guard Insurance solution to provide greater peace of mind to our credit union clients and, in turn, the members of those credit unions.”


Lending insurance has played a critical role throughout the consumer credit ecosystem. As loans become digitized, TruStage with its first-of-its-kind digital lending insurance solution provides coverage for a fully digital lending event. The Payment Guard solution is designed to be a component of the loan, integrating easily and adding an extra layer of protection for both borrowers and lenders. With this new offering, TruStage is now protecting over $375 million1 in aggregate loan portfolios and is focused on providing coverage to digital lenders/fintechs as well as their underlying lending capacity providers. 


"TruStage and QCash Financial are united in our vision of enhancing the financial well-being for borrowers and lenders alike,” said Danielle Sesko, Director of Product Management “Through our partnership with QCash, we are not just mitigating risk; we are fostering trust and resilience in lending transactions.”


To learn more about this TruStage offering at QCash, click here. To start a dialogue with TruStage about this offering, click here.


About QCash Financial, LLCQCash Financial is a mission-driven fintech firm that empowers financial institutions in their quest to improve the financial well-being of their communities by providing loans to their members in under 60 seconds without the use of a credit score. The QCash platform is the best tool for advancing financial inclusion and access for credit union members. QCash Financial is a wholly owned credit union service organization of Alloya Corporate Federal Credit Union. Visit www.qcashfinancial.com to learn more.


About TruStage

TruStageTM is a financially strong insurance, investment and technology provider, built on the philosophy of people helping people. We believe a brighter financial future should be accessible to everyone, and our products and solutions help people confidently make financial decisions that work for them at every stage of life. With a culture rooted and focused on creating a more equitable society and financial system, we are deeply committed to giving back to our communities to improve the lives of those we serve. For more information, visit www.trustage.com.

 

TruStageTM Payment Guard Insurance is underwritten by CUMIS Specialty Insurance Company, Inc. CUMIS Specialty Insurance Company, our excess and surplus lines carrier, underwrites coverages that are not available in the admitted market. Product and features may vary and not be available in all states. Certain eligibility requirements, conditions, and exclusions may apply. Please refer to the Group Policy for a full explanation of the terms. The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by any financial institution. Corporate Headquarters 5910 Mineral Point Road, Madison, WI 53705.

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