The browser you are currently using is not supported by gscu.org. Portions of our website and internet banking may not display or function properly when used with your current browser.
It is critical that you use the most recent version of your browser to ensure full functionality. Please click to upgrade.
Before upgrading please click here if you are utilizing Windows XP for important information.
If you believe you are receiving this message in error click here.

How Payment Protection Fits into Your Financial Plans

Every time you take out a loan, it impacts your financial picture. Payment Protection* is one of the ways you can make sure your loan doesn't turn into a financial burden. We offer two types of Payment Protection:

Credit Life Insurance is designed to reduce or pay the insured balance of your loan if you die during the term of your loan.

Credit Disability Insurance is designed to pay your loan payments (up to the contract limit) if you become ill or disabled and are unable to work at any time during the term of you loan.

Payment protection may make sense for you. It could be an effective way to supplement any other life or disability insurance you carry (check with your employer to determine if you have any current short-term or long-term disability benefits).

Payment Protection Benefits

Protect your family's financial security.
Protects your credit rating. Ensures your loan will not end up in default in the event of your disability or death.

Simplified eligibility. You can usually obtain Payment Protection up to the age of 65 and even up to the age of 70 in some states. Also, a medical exam is usually not required, although, general health questions may be asked. Your insurance becomes effective as soon as your loan is finalized.

Convenient. Applying for Payment Protection is easy and usually done at the same time of the loan application. Your premium is included with your monthly payment. If you do not sign up for Payment Protection at the time of your application, you can do so at any other time after your loan closing. However, once the loan has been in place for 30 days, you'll have to provide evidence of good health in order to receive coverage.

*Note: This advertises the following Group Credit Insurance Policy Forms: Minnesota Mutual XXX-4000 series, and Minnesota Life MHC-XX-4000 series and XX-60000 series as well as any applicable state variations.


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) is a voluntary non-insurance program that helps pay the difference between a vehicle’s actual cash value and your loan balance according to your policy, subject to limitations and exclusions. It protects you in the event your vehicle is declared a total loss by your insurance company or stolen and not recovered. Coverage can be conveniently included in your loan payment. With GAP Advantage, members receive $1,000 towards their new GSCU auto loan if financed within 90 days from the date of total loss of the covered vehicle.

Apply Online
Receive an answer to your loan request in just 60 seconds when you apply online. Pre-approval is valid for 45 days.*

Call 24-Hours a day!
Have questions? Call 24/7 to speak to a lending representative anytime with Lending After Hours at 1-800-645-4728.


*A $95 loan origination fee for consumer loans will be added to the amount borrowed upon closing. Please see important disclosures. Other fees may include $25 for Title (State of NH fee), $48 for UCC (State of NH fee), and VSI (insurance fee) amount varies. VSI Insurance protects the credit union in the event there is a problem with member's insurance.






HomeHome
Home
SavingsLet a GSCU special savings account help you realize your savings dreams this year – whatever you’re saving for!
Save Your Way
our storySome may know us as an established neighborhood credit union with friendly staff and competitive rates. But, to most of our members, we're so much more than that.
Our Story