Loan Protection
When life is unpredictable, get prepared with Loan Protection.
If only financial emergencies came with a warning. Unfortunately, we all know life doesn’t quite work this way.
Wauna Credit Union has options available for added protection to your finances, such as when you experience an auto accident, car breakdown, or sudden unemployment. Take a look at each of our loan protection choices, so you can make unexpected financial impacts as predictable as possible.
Loan Protection for Vehicles
Wauna CU offers coverage options to protect your vehicle — and your wallet.
Guaranteed Auto Protection (GAP) Coverage
If your vehicle is ever totaled in an accident or stolen, your insurance payout might not cover the full amount you still owe on your loan. This is where GAP (Guaranteed Auto Protection) comes in.
GAP coverage helps bridge the difference between your vehicle’s value and your remaining loan balance, potentially reducing (or even eliminating) the financial gap so you’re not left paying for a vehicle you no longer have.
Mechanical Repair Coverage
As your vehicle gets older, unexpected repair costs can add up quickly. Mechanical Repair Coverage (MRC) helps protect you from those surprise expenses by covering many major repairs that aren’t included in a standard warranty. You can use your coverage at any authorized repair facility across the U.S., Alaska, Hawaii, and Canada.
Loan Protection for Credit Cards
We know your family means everything and protecting them from financial hardship matters. With Debt Protection from Wauna Credit Union, your loan payments or balance may be canceled or reduced (up to contract limits) if the unexpected happens.
Whether you experience a covered job loss, disability, or death in the family, Debt Protection can help ease financial stress during difficult times.
Loan Protection FAQs
If you’re interested in any or all of these loan protection options, reach out to any loan officer or staff member at any Wauna Credit Union branch for assistance.
The cost depends on which loan protection plan you choose (GAP, MRC, and/or Debt Protection) and your specific situation. Contact a Wauna CU staff member for more personalized information.
