Payment Protection

Look to your credit union first for low-rate financing and peace of mind. Protect your investment–and yourself–with credit protection options. Coverage can be conveniently included in your loan payment.

Credit Protection

Studies show that the financial strain of disability is the leading cause of personal bankruptcies. Our payment protection plan helps provide peace of mind knowing that your monthly loan payment will be taken care of should you become totally disabled and unable to work due to a covered event. There are maximum loan amounts, maximum loan payments and age restrictions that apply. Your payments will be made on your behalf while you are out of work due to a totally disabling illness or injury. Credit protection will help provide one less payment for you and your family. You will not have to use funds from your savings account or borrow against other assets, such as your home or 401(k). In the event you should pass away before your vehicle loan is repaid, credit protection will pay off the remaining balance up to the maximum listed in the policy. The vehicle is paid for and becomes an asset for the family, rather than another liability. Restrictions apply.

Guaranteed Asset Protection (GAP)

Your credit union can also help close the gap with protection that picks up where auto insurance leaves off. Guaranteed Asset Protection (GAP) helps pay the difference between a vehicle’s actual cash value and your loan balance according to your policy. It protects you in the event your vehicle is damaged beyond repair, reported stolen, or declared a total loss. Coverage can be conveniently included in your loan payment. With GAP Plus, members receive $1,000 towards their new GSCU auto loan if financed within 60 days from the date of total loss of the covered vehicle.