Credit Insurance
Mutual Savings Credit Union members can take the steps to make sure that their loan payments continue to be made in the event of an accident or death that would normally interupt loan payments. MSCU offers a variety of options that can be added to your loan.
CREDIT LIFE
Credit Life gives added assurance that family members will not be burdened with the balance of your loan after a borrower’s death. Credit Life payments only add a small fraction to your loan payment.
CREDIT DISABILITY
If an injury or disability causes a borrower to be unable to work, Credit Disability maintains the borrower’s loan payments. Credit Disability can keep your MSCU loan payments current even if you can’t work.
GAP
GAP insurance helps cover the remainding balance of an auto loan in the event that the vehicle is damaged beyond repair before the final loan payment is made. If the borrower’s auto insurance check does not help cover the full amount owed on the auto loan after the accident, GAP insurance will cover the remaining amount.
MRC
Repairs to vehicles can be costly. MRC coverage helps borrowers afford preapproved repairs on vehicles financed by MSCU. Watch this video to hear from an actual credit union member about how MRC coverage really helped with repair expenses.
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