MBP/GAP: Additional protection on your auto loan.

MBP

Mechanical Breakdown Protection protects against high repair bills for you if mechanical breakdown should occur on your vehicle. Pays directly to any licensed mechanic all covered components and assemblies.Must be preauthorized before any work is done

GAP

Guaranteed Auto Protection is a reimbursement program that protects you and the credit union when a car is stolen or destroyed. This pays the deficiency between the Actual Cash Value of the vehicle at the time of the loss and the adjusted balance of the loan.

Eligibility requirements, interest rates and repayment terms vary depending upon the type of loan you request. Email us or call 1-800-343-6328 for more information.

Debt Cancellation
Take a minute and think about the people in your life that are closest to you. What if something were to happen to you OR you became disabled through a sudden illness or accident? These are not pleasant things to think about, but we all know that it can happen. Your America's Christian CU offers you the opportunity to protect yourself and your family through debt cancellation.

Q. What is Debt Cancellation?
A. It’s an agreement between you and your credit union that, depending on the package selected, can cancel or postpone the principal and interest (or interest only) portion of your loan payment, up to the agreement maximum, if you become involuntarily unemployed, sick, or injured. It can also repay your loan, up to the agreement maximum, in the event of loss of life.

Q. I see debt can either be cancelled or postponed. What’s the difference?
A. Balance cancellation pays off a debt, up to the agreement maximum, if you die. Payment Cancellation cancels the principal and interest portions of your loan payment, up to the agreement maximum, if you become disabled or fall victim to some other covered event such as Involuntary Unemployment. The amount is applied to your loan balance the same as if the payment had been made. Interest Cancellation defers the principal portion of the payment and cancels the interest portion, up to the agreement limit. With deferral, the loan balance does not decline. Program fees may or may not be waived under Interest cancellation. Payment Postponement (sometimes referred to as Skip Payment) defers the entire payment, along with any program fees, but interest continues to accumulate and the outstanding balance increases.

Q. Why should I consider debt cancellation?
A. Here’s a few good reasons: .. Helps protect you and your family against financial hardship should the unexpected occur .. Helps protect your good credit rating and loan collateral .. Reduces the financial burden on your family should you die, become disabled, or lose your job.

Eligibility requirements, interest rates and repayment terms vary depending upon the type of loan you request. Email us or call 1-800-343-6328 for more information.

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