Loan Protection Services

GAP Advantage

Guaranteed Asset Protection (GAP) Insurance is an added benefit you can choose to add to your new or used auto loan financed with Harbor Pointe Credit Union.  In the event your vehicle is totaled in an accident or unrecovered in a theft, GAP pays the difference between the Actual Cash Value (ACV) of the vehicle, which is determined by your primary insurance company and the unpaid loan balance. GAP protection also offers the additional benefit of providing $1,000 towards the principal balance of your replacement vehicle loan as long as secured with HPCU within 90 days of the date of loss of previous vehicle.

• Protects you in the event you have a total loss in your collateral
• Protects your credit rating
• Covers immediate depreciation value
• GAP will help pay the deficiency balance on your loan after your insurance settlement is applied
• ADR Benefit – Reimburses you up to $500 of your deductible should you need to file an insurance claim on any vehicle you are in title to and on the same insurance policy as the auto with your ADR benefit. Unlimited times within the first 36 months.

ConsumerSafe Debt Protection

Harbor Pointe Credit Union knows how important it is to our members to protect their financial security.  That is why we offer optional debt protection for your peace of mind.  Under the ConsumerSafe Debt Protection program, your loan balance may be canceled, or your monthly loan payments canceled, without penalty or added interest.  You benefit from knowing you and your credit rating are protected – and most importantly – that your family is protected.

• Available for closed-end, consumer loans with terms of 120 months or less
• Multi-featured plans include Death, Disability and Involuntary Unemployment Protection
• Affordable premiums built right into your monthly loan payment

* Guaranteed Asset Protection (GAP) Insurance and Debt Protection products are optional.  Whether or not you purchase GAP Insurance or Debt Protection will not affect your application for credit or the terms of any existing credit agreement.  Additional information will be given prior to making any payments.  Eligibility requirements, conditions and exclusions will apply.  See a Harbor Pointe Credit Union Lender for complete details.