INSURANCE

 

Payment Protection

Your Credit Union believes in protecting your credit. That is why Chemcel Federal Credit Union offers Payment Protection Insurance to our members. This service will pay your minimum monthly payment in the event of an illness, injury, or death. Protect your family members fron the financial burden and additional stress during these difficult times.

For more information on how you can receive Payment Protection Insurance call a Member Service Representative today at (361) 584-6246.


NEW SERVICE – CFCU Guaranteed Asset Protection Insurance Plus (GAP)

Don’t be stuck making payments on a car you can’t drive! How many times have you heard of someone’s car being totaled or stolen and their insurance company refusing to payoff the loan balance?

It’s all too common nowadays, since many insurance companies only pay the ‘Actual Cash Value’ of the vehicle. In most cases, this doesn’t equate to the loan balance, and the borrower is left paying the difference.

To protect members from this unpleasant situation, we’ve partnered with Cuna Mutual Group to offer an inexpensive solution.  GAP Plus can help fill the gap between what your vehicle insurance will pay and what you owe on the loan. GAP Plus is like an airbag for your vehicle to help cushion against sudden unexpected out-of-pocket expenses in the event your vehicle is totaled.

GAP Plus coverage also includes up to $1,000 toward your down payment of a replacement vehicle (where allowed by law and when financed by our credit union)

GAP Plus is offered to members for a low one-time fee and is good for the life of your loan. And if for any reason you are unsatisfied with this coverage, you can cancel the protection and receive a full refund during the first 90 days.

To make your decision even easier, we offer several payment options. You can add the premium to your auto loan (which will increase the payment accordingly), write us a check, or transfer the full amount from your savings or checking account.

For more information contact our loan department at (361) 584-6246.


Vehicle Service Agreement

Vehicle Service Agreement (VSA) helps cover unexpected repairs or other items that take your car off the road. VSA provides coverage for any eligible new and used vehicle, including vehicles you own or are paying for through another financial institution.

As your vehicle gets older, the risk and cost of repairs will increase. There are several plans available to members of CFCU.

Why should you buy a VSA?

  • Protects against out of pocket expenses
  • Affordable
  • $0 deductible option
  • Rental, towing and trip interruption
  • Choice of repair facility
  • 60 day money back guarentee
  • National fleet accounts

Contact your local branch for more information.