As the saying goes… accidents do happen. Unfortunately so do thefts. If your member's car or truck is declared a "total loss" by their insurance company, they will be paid based upon the "replacement value" of the vehicle. Your member is still liable for the entire loan balance that very well may exceed the insurance settlement by several thousand dollars. The end result… they have a "Gap" in their insurance coverage and the credit union has a potential risk exposure!

Guaranteed Protection
A Gap Waiver is a Loan Balance Deficiency (Gap) Waiver that is designed to eliminate your member's unpaid net loan balance. It relieves the member of their responsibility to pay a loan deficiency balance that is not covered by their primary insurance policy or any applicable third party insurance policy.

The Right Choice
Members Insurance Agency works closely with CUNA Mutual to provide an effective and affordable solution, MEMBERS CHOICE Gap Protection.

Features of MEMBERS CHOICE include:

Please contact me with more information.

• Protection for term of the loan, up to 84 months
• Coverage for vehicles valued up to $100,000 at the time of purchase
• Payment of benefits up to $50,000
• Coverage for deductibles up to $1,000
• A "Gap Plus" option that provides a $1,000 down payment credit toward a replacement vehicle.
• Fully refundable premium in the first 60 days. Partially refundable anytime thereafter.
• Fee Income opportunities for the credit union along with protection from loss.