Guaranteed Asset Protection PLUS (GAP Plus)

GAP Plus helps protect you from a possible financial loss in the case that your vehicle is stolen or totaled.  GAP Plus will pay the difference between your insurance settlement and your loan balance easing the financial burden of this potentially high-cost situation.  You can sign up for GAP Plus when applying for your auto loan and this one-time fee can be rolled into your monthly loan payment to make this beneficial coverage affordable and easy.  See our Consumer Loan Department for more information about GAP Plus.  

Mechanical Repair Coverage (MRC)

MRC reduces your risk of paying high-cost mechanical repairs by creating or extending your vehicle’s warranty.  With three different MRC plans available, you are able to select the deductible and coverage that best fits your needs.  All plans include 24-hours emergency roadside assistances and rental reimbursement giving you the peace of mind that you’re always covered.  To find out if your vehicle qualifies for any of our MRC plans, please see our Consumer Loan Department.  

For an MRC estimate on your vehicle, click here

Debt Protection Plans

MEMBER'S CHOICE™ Borrower Security Plans - Help protect your loan.

Help preserve your standard of living.

Whether you're taking out a loan to make home improvements or buy a vehicle, it can be a financial gamble because things happen…life happens.  You’re betting you can pay back your loan and you won’t lose your job (through no fault of your own), or become disabled (due to injury or illness), or pass away, which could leave your family responsible for your loan balance. Life events can cause financial hardship, making bill-paying difficult. You don't want delinquent payments and defaulted loans to cause you to lose your assets, negatively impact your credit rating, or cause financial distress for your family.

Help play it safe.

MEMBER'S CHOICE™ Borrower Security Plan is a voluntary loan-payment protection product that helps you get relief from the financial burden of delinquency, default, or foreclosure if a protected life event unexpectedly happens to you. Simple eligibility requirements help ease the enrollment process.

Protection that matters.

If a protected life event happens to you (and you’re a protected borrower or co-borrower on the loan), MEMBER'S CHOICE™ Borrower Security Plan will cancel or waive your loan payment(s), up to the contract maximums —helping to lessen your worries, and your family’s worries, about paying loans during a time when your income may be reduced or lost and paying other household bills becomes challenging. Protected events include:

  • Loss of life, including those caused by acts of war
  • Disability, including those caused by acts of war
  • Involuntary unemployment

About 1 in 8 of today's 20-year-olds will die before reaching age 67.1

Just over 1 in 4 of today's 20-year-olds will become disabled before reaching age 67.1

Long-term unemployment (those jobless for 27 weeks or more) has accounted for more than one-third of the total unemployment since July of 2009.2

Source:
1.Social Security Administration, Fact Sheet, June 2013
2. Bureau of Labor Statistics, Databases, Tables and Calculators by Subject, June 2013

Debt Protection FAQs

Contact our Consumer Loan Department at 536-3677 for more information.

Your purchase of MEMBER'S CHOICE™ Borrower Security Plans is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan.  Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms of MEMBER'S CHOICE™ Borrower Security Plans. You may cancel the protection at any time. If you cancel protection within 30 days you will receive a full refund of any fee paid.