As a result of unexpected illness, injury, or death eliminating their ability to earn a paycheck, even the most responsible person can be hit with bills they can’t pay, damage to their credit score, and even repossessions. 

When you add Payment Protection to your loan, you minimize the impact of the unexpected. In most cases, Payment Protection can: 

• Eliminate all or part of your remaining loan balance 
• Protect your credit rating as loan payment obligations are made on your behalf
• Prevent late fees
• Create financial security for your family
• Free-up extra cash when it’s needed most

Payment Protection is affordable, it may cover both you and your co-borrower, and it is a part of your regular payment – giving you one less thing to worry about. 

To learn more about Payment Protection, contact your loan officer or service representative today!

Payment Protection may be available for personal credit cards, auto loans, personal consumer loans, and home equity loans. 

Your purchase of Payment Protection is optional. Whether or not you purchase Payment Protection will not affect your application for credit or the terms of any existing credit agreement you have with the financial institution. There are eligibility requirements, conditions, and exclusions that could prevent you from receiving benefits under Payment Protection. You should carefully read the contract for a full explanation of the terms.

According to CARFAX, new vehicles lose about 45% of their value within three years, and about 60% of their total value within five due to depreciation. 

In the event your vehicle is declared a total loss after an accident or theft, it’s likely the standard insurance policy will fall short in covering your entire loan balance. In fact, if the average new car owner has their vehicle stolen or damaged beyond repair, they could still owe thousands of dollars after their insurance settlement.  

To protect yourself from a financial loss, move beyond the industry standard with coverage that’ll benefit you through your entire loan term.  

GAP Advantage™ can pay up to the remaining balance of your auto loan after an insurance payout and give you additional funds to finance your next vehicle with us.  

In most cases, GAP Advantage will make up the difference between what your insurance policy covers and the amount you still owe. So, instead of paying off a substantial loan balance for a vehicle you can no longer drive, you could be relieved from your remaining loan balance and have funds to put toward a down payment on a new car.  

Give yourself peace of mind knowing your auto loan won’t be a be a burden if an unexpected accident or theft occurs. 

To learn more, call your loan officer or service representative today! 

Your purchase of GAP Advantage is optional. Whether or not you purchase GAP Advantage with PowerBuy will not affect your application for credit or the terms of any existing credit agreement you have with the financial institution. There are eligibility requirements, conditions, and exclusions that could prevent you from receiving benefits under GAP Advantage with PowerBuy. You should carefully read the contract for a full explanation of the terms. 

Whether you plan on selling your vehicle after a few years or plan on driving it for many years to come, you may find yourself eventually dealing with a repair or breakdown. And with the rising cost of labor and parts, you could find yourself dealing with high out-of-pocket expenses. 

With Major Mechanical Protection (MMP), you can protect yourself from costly repairs and enjoy your vehicle longer. The total cost of MMP is often far less than the cost of a single repair! Pay for this protection once, and in most cases you will not have to pay anything more than a small deductible should a breakdown occur. 

Your coverage may include all or some of the following benefits*: 

• Comprehensive repair coverage 
• 24-hour roadside assistance 
• Lost key and lockout assistance 
• Emergency tire repair 
• Rental car reimbursement 
• Trip interruption expense reimbursement 
• Flexibility when getting repairs done — can be used at most licensed repair facilities 
• MMP transfers to a new owner, which adds to the resale value of your vehicle 

*coverages vary 

Protect yourself for the road ahead— to learn more about MMP, call your loan officer or service representative today! 

Protect your investment if your vehicle is totaled or stolen and not recovered. 

Every vehicle on the road depreciates in value. Once you drive a new or pre-owned vehicle off the lot, its value begins to drop. So how do you protect this value over time, especially if you experience a total loss from an accident or the vehicle is stolen and never recovered? That’s where PowerBuy Equity Protection steps in. 

How does PowerBuy Equity Protection help me?

Let’s say your vehicle is totaled or stolen. Your insurance carrier will pay you for the actual cash value of the vehicle at the time of loss. However, they don’t pay for the value of the vehicle lost over time. That’s where PowerBuy Equity Protection steps in to provide a benefit amount to cover the difference between the cash purchase price and your insurance carrier settlement. As long as you return to your credit union to finance your next vehicle, you’ll receive a designated benefit amount to help you get back on the road with a replacement vehicle.  

For example: If you paid $37,000 for a vehicle and two years later you are in an accident and the vehicle is declared a total loss, your insurance may pay you $32,000–the actual cash value of your vehicle at the time of your accident. You’re left with a loss of $5,000, the amount the vehicle depreciated. Unfortunately, with no additional coverage, you would be out of that amount. However, with a PowerBuy Equity Protection plan, the benefit amount would cover the difference ($5,000) to return to your financial institution to finance your replacement vehicle. 

Additional details 

You can add PowerBuy Equity Protection to your loan at any time during the first 12 months of purchasing your vehicle.  

After purchasing PowerBuy Equity Protection, your vehicle is covered for up to 60 months. 

To receive your PowerBuy benefit, you’ll need to finance your replacement vehicle with our credit union.  

Drive with confidence knowing that your financial institution is here for you. Speak with a representative to add PowerBuy Equity Protection to your loan today.