Guaranteed Asset Protection
Coverage Worth the Investment!
Guaranteed Asset Protection (GAP) protects you against financial loss in the event your vehicle is damaged beyond repair (totaled) or stolen and never recovered.
Since a vehicle's value declines as a result of depreciation, the loan balance can be higher than its Actual Cash Value (ACV). Without GAP coverage, you would be responsible for paying the difference between the insurance settlement and the outstanding loan balance. With the purchase of GAP, the deficiency balance may be waived.
Eligible Collateral & Rates
Private passenger autos, vans and light trucks (one ton load capacity and under) that are not used for commercial use.
Guaranteed Asset Protection is not NCUA insured.
Benefits
- Protects your credit rating
- Eliminates or reduces "out of pocket" expenses for the remaining loan balance after loss settlement
- You are able to purchase a replacement vehicle sooner because there is little or no carry-over balance
- Pays benefits up to $50,000
- You may purchase up to 1 year from effective date of loan
- After 30 days, GAP is eligible for a pro-rated refund
- Available at reduced amount compared to the dealer's GAP
- Waiver may be fully refunded within 30 days of its inception if no GAP benefits have been paid
- Peace of mind
$450 Rate to Member
GAP covers the difference between the net payoff of the Lease/Loan contract and the ACV of the vehicle as determined by the primary insurance company. Auto deductible protects you on accidents not resulting in a total loss. Here is an example:
| You are NOT out of pocket thousands of dollars | |
|---|---|
| Loan Amount: | $24,000 |
| Term: | 72 months |
| Date of Loss: | 36 months |
| Loan/Lease Payoff: | $12,000 |
| Insurance Settlement¹: | $8,500 |
| GAP (Guaranteed Asset Protection) | ($3,500) |
| Insurance Deductible | ($500) |
| Payment to Lender | $4,000 |
| Out-of-pocket Expense with GAP coverage | $0.00 |
- Actual Cash Value of Vehicle
Reach Out
Let’s Get Started
- Login or Enroll into Online Banking
- In the App, click “More” in the menu bar
- On desktop, click the three dots in the upper right hand corner
- Click “Skip-A-Pay” to start your skip
Log into Online Banking
Need to Enroll in Online Banking
To make this process as quick as possible, please have the following ready:
- Social Security Number
- Member Number
- Choose a Username
- Have a Strong Password
Not signed up for online banking?
No problem, click here.
Let’s Get Started
Log into Online Banking
Need to Enroll in Online Banking
To make this process as quick as possible, please have the following ready:
- Social Security Number
- Member Number
- Choose a Username
- Have a Strong Password
Let’s Get Started
Needed Items
To make this process as quick as possible, please have the following ready for yourself and any joint account holders on the account, including beneficiaries:
- Social Security Number
- Date of Birth
- Current Address
- Phone Number
- Email Address
- Valid ID
- Requested Loan Amount
Choose one of the following:
Needed Items
To make this process as quick as possible, please have the following ready for yourself and any joint account holders on the account, including beneficiary’s:
- Social Security Number
- Date of Birth
- Current Address
- Phone Number
- Email Address
- Valid ID
- Initial Deposit Amount (ACH or Credit Card)
Choose one of the following:
Let’s Get Started
Needed Items
To make this process as quick as possible, please have the following ready for yourself and any joint account holders on the account, including beneficiary’s:
- Social Security Number
- Date of Birth
- Current Address
- Phone Number
- Email Address
- Valid ID
- Initial Deposit Amount (ACH or Credit Card)
Choose one of the following:
Let’s Get Started
Needed Items
To make this process as quick as possible, please have the following ready for yourself and any joint account holders on the account, including beneficiary’s:
- Social Security Number
- Date of Birth
- Current Address
- Phone Number
- Email Address
- Valid ID
- Requested Loan Amount
Choose one of the following:
Let’s Get Started
Needed Items
To make this process as quick as possible, please have the following ready for yourself and any joint account holders on the account, including beneficiary’s:
- Social Security Number
- Date of Birth
- Current Address
- Phone Number
- Email Address
- Valid ID
- Requested Loan Amount
Choose one of the following:
Let’s Get Started
Needed Items
To make this process as quick as possible, please have the following ready for yourself and any joint account holders on the account, including beneficiary’s:
- Social Security Number
- Date of Birth
- Current Address
- Phone Number
- Email Address
- Valid ID
- Requested Loan Amount
Choose one of the following:
Let’s Get Started
Needed Items
To make this process as quick as possible, please have the following ready for yourself and any joint account holders on the account, including beneficiary’s:
- Social Security Number
- Date of Birth
- Current Address
- Phone Number
- Email Address
- Valid ID
- Credit Limit
Choose one of the following:
Let’s Get Started
Needed Items
To make this process as quick as possible, please have the following ready for yourself and any joint account holders on the account, including beneficiary’s:
- Social Security Number
- Date of Birth
- Current Address
- Phone Number
- Email Address
- Valid ID
- Requested Loan Amount
- Estimated Property Value
- Estimated Property Tax and Insurance Amount
- Existing Mortgage Information
Choose one of the following:
Let’s Get Started
Needed Items
To make this process as quick as possible, please have the following ready for yourself and any joint account holders on the account, including beneficiary’s:
- Social Security Number
- Date of Birth
- Current Address
- Phone Number
- Email Address
- Valid ID
- Requested Loan Amount
- Estimated Property Value
- Estimated Property Tax and Insurance Amount
- Existing Mortgage Information
Choose one of the following: