Personal Banking

Loan Protection Insurance

Credit Life and Disability Insurance | Guaranteed Asset Protection (GAP) | Auto Deductible Reimbursement | Mechanical Breakdown

Credit Life and Disability Insurance

You may worry about unexpected, real-life events that could leave you scrambling to pay your monthly bills, including your loan payment.

Credit Life and Disability Insurance can help relieve financial pressure in the event of death or disability. Credit Life insurance is designed to reduce or pay off the insured balance on your loan if you die. Credit Disability insurance will make your loan payments up to the contract limit if you become ill or disabled and are unable to work. You benefit from the peace of mind knowing you and your credit rating are protected.

The insurance is available on installment loans, lines of credit, credit card loans and certain types of real estate secured loans.

What are the benefits?

  • Protects your family's financial security - reduces the financial burden on your family
  • Reasonable monthly premiums
  • Convenient - application is easy and done at time of loan application.
  • Eligibility - You can usually obtain Credit insurance up to the age of 65 and even up to 70 in some states. A medical exam is usually not required although general health questions may be asked.

Guaranteed Asset Protection (GAP)

Protect your auto investment with Guaranteed Asset Protection

Did you know that if your vehicle were to be stolen or damaged beyond repair (totaled), your insurance company may not pay off the entire loan balance?

That’s because your insurance company settlement is based on the vehicle’s actual cash value. And because of the way vehicle values decline, the outstanding loan balance is usually higher than the actual cash value. You could end up paying off a loan balance for a vehicle you can no longer drive!

Guaranteed Asset Protection (GAP) is designed to eliminate your unpaid auto loan balance in the event your vehicle is totaled or stolen. GAP supplements, but does not replace, your primary auto insurance coverage.

GAP covers the difference between the actual cash value of your vehicle (primary insurance settlement) and your outstanding loan balance at the time of loss, less certain deductions.

GAP is designed for all drivers, whether you finance a new or used vehicle. It may even cover your insurance deductible – up to $1,000 – as part of your GAP claim settlement. And, the cost of GAP can be financed with your loan.

GAP keeps you in the driver’s seat!

Auto Deductible Reimbursement

To thank you for your business we are going to provide you with a complimentary benefit called Auto Deductible Reimbursement (ADR). Please see below benefits:

Pays the member up to $500 per loss (limit of two losses per year) when a claim is filed and paid with their primary carrier for any vehicle the enrolled member owns and insures.

  • Available 3 year term of coverage.
  • Coverage is effective upon the date of enrollment (no wait period).
  • Product covers ANY vehicles the member owns AND insures.
  • Auto Deductible Reimbursement is underwritten by an “A” Excellent AM best-rated carrier.

Mechanical Breakdown

Did you know that 1 in 3 vehicles will experience some type of mechanical failure in any given year?

What would you do without your car?

How will you pay for the rising cost of auto repairs?

These are hard questions, but very important ones. We are all seeing our budgets shrinking lately, and the one thing that we never seem to plan for is our vehicles breaking down.

Make sure that you are FULLY PROTECTED! We offer the finest vehicle warranty in the industry. Stop in and let us share with you how you can add the warranty to any vehicle - one you currently own or one you are looking to buy.