GAP Insurance

Did you know that the first few years that you own your vehicle, your loan balance can be higher than the actual value of your car? Why? This can happen because the car often depreciates faster than the balance on your loan is paid down.

So, what if your vehicle were stolen or totaled in an accident? You could be liable to pay the difference between your insurance settlement and your outstanding loan balance. And you’d have to pay it out of your own pocket. But not if you had Guaranteed Asset Protection (GAP) from MCU!

For a one-time premium of just $400 for all automobiles, motorcycles, ATV’s, jetskis, snowmobiles, and watercraft and $600 for motor homes and travel trailers, GAP covers the difference between the market value of your vehicle and the loan balance, less delinquent payments, late charges, refundable service warranty contracts and other insurance related charges.

In addition to paying whatever deficiency might exist, GAP will cover your insurance deductible up to $1,000. It’s easy, affordable and simple: just visit one of our branches to add coverage!

Here’s how it works:

Loan balance after one year:
Your vehicle’s actual cash value:
Your deductible:
Insurance Settlement:
The gap:
GAP pays:
You pay:


Statistics show that the big repair bills can come after the manufacturer’s warranty has expired. But with a Warranty through Members Credit Union, you can be spared from the cost of catastrophic repairs. An Extended Warranty is also known as Mechanical Breakdown Insurance (MBI) or a vehicle service contract, and it provides coverage on your vehicle after the manufacturer’s warranty has expired.

With MBI through MCU, you can save hundreds of dollars compared to what you’d pay for the same coverage at a dealership.

You can add this protection when MCU finances the vehicle, or you can add coverage to your current loan as long as your vehicle is 10 years old or newer with 100,000 miles or less. Once you select your plan, you’re immediately covered.

Some other benefits of MBI from MCU:

  • Rental reimbursement
  • 24 hour, toll-free roadside assistance
  • Emergency travel expense
  • Nationwide authorized repair facilities
  • Transferable coverage
  • Flexible commitment
  • No out of pocket costs (other than deductible) — Bills are sent directly to the plan administrator for payment of all covered repairs

If you would like more information and pricing on this added protection, contact a loan representative at 817-558-0226.

Indirect Dealers

When do most people go car, boat & RV shopping? Yup, weekends. And where do they go shopping? At the dealer, of course.

Well, thanks to Indirect Lending from Members Credit Union, you can get an on-the-spot, on-the-money MCU loan anytime at the dealer. It’s simple. You just get in there, negotiate your best deal on a car. Then when it comes around to financing, just say, “Oh, I’d like to finance this with a great Members Credit Union loan!”

Local Participating Dealers

Jeff England Motor Company
1736 N. Main
, Cleburne, TX 76033

Members Credit Union BBB Business Review

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