At MAFCU, we want to do all we can to help you achieve your financial goals and build a more secure future.
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Guaranteed Asset Protection (GAP Plus)
Guaranteed Asset Protection Plus (Gap Plus) is like an airbag for your vehicle loan. If your vehicle is totaled or stolen, GAP Plus can help fill the gap between what your vehicle insurance will pay and what you owe on your loan, to cushion you against sudden out-of-pocket expenses. GAP Plus may cancel part of your next loan with your credit union, when you purchase a replacement vehicle. These expenses could cost you thousands of dollars. Don't let a wrecked vehicle wreck your finances!
Want to know more? Contact us or speak to a Financial Service Representative at your local MAFCU branch for information or to elect GAP today!
Your purchase of MEMBER'S CHOICE™ Guaranteed Asset Protection (GAP) 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 GAP Waiver Agreement for a full explanation of the terms of GAP. If you choose GAP, adding the product fee to your loan amount will increase the cost of GAP. You may cancel the protection at any time. If you cancel protection within 90 days you will receive a full refund of any fee paid. You will receive additional information before you are required to pay the fee for this product. GAP-1243904.1-0715-0817
MAFCU SilverShield Debt Protection
Thinking about taking out a loan to make home improvements or buy a vehicle? You should take steps to protect you and your family in case something unforeseen 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 need to take family leave, or pass away—which could leave your family responsible for your loan balance.
Life can be wonderful. But it can also get complicated when unexpected things happen. Protecting your loan payments against death, disability, or involuntary unemployment could help protect your fnances. This protection could cancel your loan balance or payments up to the contract maximums. Protect your loan payments today so you can worry a little less about tomorrow. Purchasing protection is voluntary and won’t affect your loan approval. It’s simple to apply.
MAFCU Silver Shield Protection is a voluntary loan-payment protection product designed to help you get relief from loan payments if a protected life event unexpectedly happens to you.
Call us at 301-944-1800 or visit a branch to ask about protecting your loans today.
Your purchase of MAFCU Silver Shield Protection 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 MAFCU Silver Shield Protection. 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. DP-1243901.1-0715-0817
Mechanical Repair Coverage (MRC)
It's hard to anticipate vehicle repairs and maintenance. Budgeting for this can be difficult and can tie up funds earmarked for other needs. MEMBER'S CHOICE® Mechanical Repair Coverage (MRC) is a voluntary product that may help pay for repairs on your vehicle, giving you more control to help you keep your car on the road where it should be.
If your vehicle breaks down, Mechanical Repair Coverage pays for the cost of covered repairs, less any deductible, at any authorized repair facility in the U.S. or Canada. Your loan officer can show you how a few simple steps will help you take more responsibility for your financial future.
You can cancel within 60 days for a full refund if the agreement has not been used. Or you can cancel any time after that for a pro-rated refund less an administrative fee.
Typically, as the age of your vehicle increases so does the average cost of repairs. That's why Mechanical Repair Coverage is so valuable. MRC provides rental reimbursement, 24-hour emergency roadside assistance and travel expense reimbursement; in addition, if you sell your vehicle privately, the coverage can be transferred (for a fee).
Want to know more? Contact us or speak to a Financial Service Representative at your local MAFCU branch for information or to elect MRC today!
MEMBER'S CHOICE® Mechanical Repair Coverage is administered by Consumer Program Administrators, Inc. in all states except CA, where coverage is administered by Virginia Surety Company, Inc., in WA, where coverage is administered by Automotive Warranty Services, Inc., in FL, LA , OK and WI, where coverage is administered by Automotive Warranty Services of Florida, Inc. (Florida License #60023) and in AZ, where the Obligor and Administrator is Consumer Program Administrators, Inc., all located at 175 West Jackson Blvd., Chicago Illinois 60604, 1-800-752-6265. This coverage is made available to you by CUNA Mutual Insurance Agency, Inc. In those states where MEMBER'S CHOICE® Mechanical Repair Coverage is offered as insurance (form MCCU-001-MBI) it is underwritten by Virginia Surety Company, Inc. MRC-1243908.1-0715-0817
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