ARC Federal Credit Union - Loan Protection

Preserve your assets for the future and achieve peace of mind knowing your ARC loans are protected.

GAP Insurance

Don’t let a wrecked vehicle wreck your finances.

Guaranteed Asset Protection (GAP) is a great way to protect your finances if the value of your vehicle is less than the amount of your car loan. A good rule of thumb is to assume your new vehicle will depreciate more than 20% after the first year you own it, half of which occurs the minute you drive it off the lot.* This leaves a gap between what you owe on your loan and the value of your vehicle if it’s deemed a total loss due to an accident or theft. Our GAP program may reduce or eliminate the gap between what your vehicle insurance will pay and what you owe on your loan.

Disclosure and Source:
*Car Depreciation: How Much Value Will a New Car Lose? CARFAX, Nov 9, 2018.

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 you have with us. Certain eligibility requirements, conditions, and exclusions may apply. You will receive the contract before you are required to pay for GAP. You should carefully read the contract for a full explanation of the terms. If you choose GAP, adding the GAP fee to your loan amount will increase the cost of GAP. You may cancel GAP at any time. If you cancel GAP within 90 days you will receive a full refund of any fee paid. GAP purchased from state chartered credit unions in FL, GA, IA, RI, UT, VT, and WI, may be with or without a refund provision. Prices of the refundable and non-refundable products are likely to differ. If you choose a refundable product, you may cancel at any time during the loan and receive a refund of the unearned fee. GAP purchased from state chartered credit unions in CO, MO, or SC may be canceled at any time during the loan and receive a refund of the unearned fee. GAP purchased from state chartered credit unions in IN may be with or without a refund provision. If the credit union offers a refund provision, you may cancel at any time during the loan and receive a refund of the unearned fee.

Credit Insurance may make your loan payments when you can’t

Life can be wonderful. But it can also get complicated when unexpected things happen. Protecting your loan payments against the unexpected such as a covered life event, including dismemberment and terminal illness, could help you protect more than your finances. It could help lighten the burden for the people you care about. Insure your loan payments today so you can worry a little less about tomorrow.

There’s no way to predict life events, but you can take steps to protect your family if the unexpected happens. Credit life insurance may help reduce or pay off your protected loan, up to the policy maximum, in the event of a covered life event.

You decide which payments you want to protect and the monthly premium may be added to your loan. Coverage is designed to fit your lifestyle, it is totally voluntary, and it won’t affect your loan approval. It’s simple to apply for individual or joint coverage. You can sign up for credit insurance at your loan closing, or anytime you’d like.

Call ARC Federal Credit Union at (814) 946-0857, option 4, or email memberhelp@arcfcu.org to find out more.

Disclosure:
CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Your purchase of MEMBER’S CHOICE® Credit Life Insurance, underwritten by CMFG Life Insurance Company, 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 Group Policy for a full explanation of the terms.

Unique ID & Copyright:
CL-2040223.1-0218-0320 © CUNA Mutual Group 2018, All Rights Reserved

Credit Insurance may make your loan payments when you can’t

Life can be wonderful. But it can also get complicated when unexpected things happen. Protecting your loan payments against the unexpected such as a disability could help you protect more than your finances. It could help lighten the burden for the people you care about. Insure your loan payments today so you can worry a little less about tomorrow.

There’s no way to predict an injury or illness. You can take steps to protect your family if the unexpected happens. Credit disability insurance may help make your loan payments, up to the policy maximum, in the event of a covered disability.

You decide which payments you want to protect and the monthly premium may be added to your loan. Coverage is designed to fit your lifestyle, it is totally voluntary, and it won’t affect your loan approval. It’s simple to apply for coverage. You can sign up for credit insurance at your loan closing, or anytime you’d like.

Call ARC Federal Credit Union at (814) 946-0857, option 4, or email memberhelp@arcfcu.org to find out more.

Disclosure:
CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Your purchase of MEMBER’S CHOICE® Credit Disability Insurance, underwritten by CMFG Life Insurance Company, 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 Group Policy for a full explanation of the terms.

Unique ID & Copyright:
CD-2039992.1-0218-0320 © CUNA Mutual Group 2018, All Rights Reserved

Auto Mechanical Repair Coverage

The miles can add up but the repair costs don't have to.

MEMBER'S CHOICE^® Mechanical Repair Coverage can help deflect some risk of costly repairs keeping your vehicle running extra miles and extra years. With different coverage levels and deductibles to choose, there's a plan to fit your family's budget.

Whether you depend on your vehicle for work or getting your family to school and activities, you need transportation that's safe and reliable. As your vehicle gets older, the risk and cost of repairs goes up. MRC can eliminate unexpected covered repairs to keep your vehicle in good working order and your family going.

Benefits of the program*:

Good at any authorized repair facility in the U.S. or Canada
Rental Reimbursement: up to $35 per day for 5 days from day one, with up to an additional 5 days for a verified parts delay.
24-hour emergency roadside assistance: up to $100 per occurrence. Includes towing, battery jump start, fluid delivery, flat tire assistance and lock-out service.
Emergency Travel Expense Reimbursement: up to $200 per day up to 5 days for a total of $1,000 for lodging, food and rental expense when a covered breakdown occurs more than 100 miles from home.
Transferable: if you sell your vehicle privately, the coverage can be transferred for a fee, and may increase the resale value and appeal.
Cancelable: receive a full refund within the first 60 days or a pro-rated refund thereafter less an administrative fee.
No out of pocket expense at time of mechanical repair: (except for any deductible and any repairs not covered by the policy)-the covered repair is paid directly to the authorized repair facility by the plan.
Ask about deductible options

*Program details may vary by state. Ask a Member Services Representative for details or receive a quote by calling 1-888-751-2709.

Mechanical Repair Coverage is provided and administered by Consumer Program Administrators, Inc. in all states except CA, where coverage is offered as insurance by Virginia Surety Company, Inc., in WA, where coverage is provided by National Product Care Company and administered by Consumer Program Administrators, Inc., in FL, LA and OK, where coverage is provided and administered by Automotive Warranty Services of Florida, Inc. (Florida License #60023 and Oklahoma License #44198051), all located at 175 West Jackson Blvd., Chicago Illinois 60604, 800.752.6265. This coverage is made available to you by CUNA Mutual Insurance Agency, Inc. In CA, where Mechanical Repair Coverage is offered as insurance (form MBIP 08/16), it is underwritten by Virginia Surety Company, Inc. Coverage varies by state. Replacement parts may be used or remanufactured. Be sure to read the Vehicle Service Contract or the Insurance Policy which will explain the exact terms, conditions, and exclusions of this voluntary product.

MRC-2764203.1-1019-1121