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Members facing a job loss are likely to stress over their monthly expenses. In fact, even after tapping into savings, borrowing money, selling assets and seeking help from family and friends, more than one-third of households report they would still not be able to cover expenses for longer than one month in the event of a job loss.1 Meanwhile, nearly a quarter of Americans struggle with paying their monthly bills, even with a dependable income.2

In partnership with TruStage™, QCash Financial proudly makes available Payment Guard Insurance, designed to benefit both credit unions and their members. Payment Guard is a first-of-its-kind insurance solution providing portfolio coverage for delinquent loans or charge-offs caused by covered job losses. For credit unions, this helps protect your portfolio against losses caused by borrowers’ unexpected job loss. For borrowers, this could provide peace of mind that they will receive a lump sum payment towards their small-dollar loan in the event of a covered job loss.


  1. Your credit union chooses to include Payment Guard with your QCash loans. From that time forward, all newly funded QCash loans will automatically be protected from losses caused by borrower job loss.
  2. Upon funding of their QCash loan, your members will receive a Certificate of Insurance with details of their Payment Guard coverage.
  3. In the event of a job loss, claims can be filed by your member directly through TruStage’s online claims portal.
  4. Upon approval of the claim, a lump sum of $500 (regardless of the outstanding balance of the loan) will be sent to your credit union to be applied to the outstanding balance of the loan.
  5. Excess funds get applied to your member’s account to offset further financial hardship.

Contact your QCash representative for more information and an overview of the set-up process. If you are not currently a client of QCash, CONTACT US to learn more.


Find a sense of peace of mind
With Payment Guard, credit unions and borrowers could find peace of mind knowing that they will receive a lump sum payment of $500 to be applied towards the outstanding balance of their loan in the event of a covered job loss. In addition, borrowers may receive a payout to help offset the financial hardships of unexpected unemployment if their loan balance is less than $500.

Save time on collections & reduce charge-offs
With Payment Guard, your members gain additional financial protection for qualifying losses, which could result in fewer loans sent for collection or charge-off. Reduced collection activity frees up valuable staff resources for other purposes and reduced charge-offs protect your credit union.

Simplify claims filing
When an unexpected job loss occurs, TruStage’s online claims portal makes it easy and convenient to file for coverage, no matter the time of day or night.


1 CFPB Office of Research Publication No. 2022-9.  Making Ends Meet in 2022.  Retrieved from December 2022
2 Board of Governors of the Federal Reserve System.  Economic Well-Being of U.S. Households in 2021.  Retrieved from May 2022
TruStage™ 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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