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Loan Protection Products

Protect Your Loan

Given life’s uncertainties, it’s easy to see why more people are turning to financial protection to safeguard their family’s financial well-being. METRO has the following options available to help you with the unknown.

Guaranteed Asset Protection (GAP) PLUS with Deductible Assistance

GAP is a great option for vehicle loan protection for what your auto insurance may not cover for a wrecked vehicle!

If your vehicle is deemed a total loss due to an accident or stolen, there can be a significant “gap” between what you owe on your loan and what your auto insurance will cover. GAP Plus helps you get into your next vehicle by reducing your next loan at the credit union.

METRO’s GAP Plus with Deductible Assistance is also designed to provide financial relief when your vehicle is damaged, but not deemed a total loss. If auto repairs cost more than your deductible, the deductible amount is applied to your loan, reducing what you owe.

View our GAP PLUS Digital Brochure or learn more about the importance of financial protection with this infographic.

Talk to your Loan Officer to sign up and get protected!

Looking for more information?

Contact us at 847-670-0456, ext 2, to speak to a Loan Department Representative.

Mechanical Repair Coverage (MRC)

As your vehicle gets older, frequent breakdowns mean costly repairs, especially after your factory warranty expires. Metro’s Mechanical Repair Coverage (MRC) can help limit those costs – and protect your finances. We have many different coverage options for every budget. Why not get a quote?

MRC Benefits:

  • Limit Repair Costs
  • Choose Your Deductible Amount
  • Select from Platinum, Gold, or Silver Plan
  • Pay Upfront in One Lump Sum or Finance the Coverage as Part of Your Auto Loan
  • Coverage Includes Maintenance Service & Parts Including, Engine, Transmission, Brakes and Steering
  • Rental & Travel Expense Reimbursement
  • Good at Any Authorized Repair Facility

Find out which MRC coverage program is right for you! Contact the Loan Department at 847-670-0456, ext. 2, for more information or for a quote.

Credit Disability Insurance and Credit Life Insurance

Protect the things that matter most. All METRO loans can provide the added security of Credit Disability Insurance and Credit Life Insurance. When your family experiences a hardship, the last thing they need is additional worry about how to pay your debts. Credit Disability and Credit Life Insurance may make your loan payments in the event of disability or even your death.

Credit Disability Insurance

Are you protected from the unexpected? Could you manage financially if your income was reduced or eliminated due to a disabling illness or injury? Credit Disability Insurance can help. It makes your monthly loan payment, up to the policy maximum, should you become totally disabled due to a covered illness or injury.

Credit Life Insurance

Credit Life Insurance gives you a way to protect your loved ones from the unexpected. It reduces or pays off your outstanding loan balance, up to the policy maximum, if you were to die before paying off the loan.

Both Include:

  • Easy Application
  • No Medical Exam required
  • Cost Included in Your Loan Payment
  • Completely Voluntary
  • Will Not Affect Your Loan Approval
  • Enjoy the Security That Comes With Being Protected

View our Credit Insurance Digital Brochure or learn more about the importance of financial protection with this infographic.

Talk to your Loan Officer to sign up and get protected!

Looking for more information?

Contact us at 847-670-0456, ext 2, to speak to a Loan Department Representative.

Disclosures

Your purchase of MEMBERS CHOICETM Guaranteed Asset Protection (GAP), which includes deductible assistance, is optional and will not affect your loan 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 purchase from state chartered credit unions in FL, GA, IA, UT, VT, and WI, may be with or without a refund provision. Prices of the refundable and nonrefundable 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 purchase 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 purchase from state chartered credit unions in IN may be 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. GAP-3395224.2-0522-0624 CUNA Mutual Group ©2022, All Rights Reserved.

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 NH, where coverage is provided and administered by Consumer Program Administrators, Inc. dba Consumer Warranty Program Administrators, in TX, where coverage is provided and administered by Consumer Program Administrators, Inc. dba The Administrators of Consumer Programs (TX License #175), in FL and OK, where coverage is provided and administered by Automotive Warranty Services of Florida, Inc. (Florida License #60023 and Oklahoma License #44198051), and in WA, where coverage is provided by National Product Care Company and administered by Consumer Program Administrators, Inc., all located at 175 West Jackson Blvd., Chicago, Illinois 60604, 1-800-752-6265. This coverage is made available to you by CUNA Mutual Insurance Agency, Inc. Coverage varies by state. Replacement parts may be new, used, non-OEM 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-3414745.1-0121-0423 CUNA Mutual Group ©2021, All Rights Reserved

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