Welcome Credit Union offers members a variety of optional protection and insurance products to help protect your assets and guard your family’s well being.  Below is a brief description of some of these products.

§         Welcome Credit Union supplies Credit Life Insurance at no additional charge on your loan balances up to a maximum of $75,000.00.  This limit applies to the sum of all your loans.  If the balances on your loans exceed this amount, the excess is not insured. 

§         Optional, low-cost, MEMBER’S CHOICE® Disability Insurance is offered on most loan accounts.  This insurance is easily obtainable and makes your monthly payment should you become disabled as a result of a covered sickness or injury.  Payments continue until you return to work, the loan is repaid, or you reach the policy maximum.  Ask your Loan Officer about this coverage. 

§         Guaranteed Asset Protection – GAP Plus coverage is available on our vehicle loans. GAP is a low-cost coverage that pays the potentially high-cost difference between your insurance settlement and your loan balance in the event that your vehicle is stolen, accidentally damaged beyond repair, or otherwise declared a total loss by your insurance company. GAP can save you from making loan payments on a car, truck, motorcycle, boat, or recreational vehicle that’s beyond repair, or stolen and not recovered. GAP Plus coverage also includes up to $1,000.00 toward the down payment on your replacement vehicle (where allowed by law and when financed by our Credit Union). You can sign up for GAP Plus when you apply for your vehicle loan or we can add it to your current vehicle within the first 60 days from the date the loan is granted. There’s no underwriting, no red tape, and no hassles!  Ask your Loan Officer about this coverage. 

§         MEMBER’S CHOICE® Mechanical Repair Coverage (MRC) covers mechanical and electrical repairs on your vehicle from the date of purchase, and continues after your manufacturer’s warranty expires.  Purchasing MRC before the warranty expires provides you with seamless, uninterrupted protection.  Ask your Loan Officer about this coverage. 

§         Welcome Credit Union has a joint marketing agreement with CUNA Mutual Insurance Society called MemberCONNECT™ to offer comprehensive and affordable insurance products to our members.  Direct marketing pieces with insurance information are mailed to your home address.  CUNA provides guidance to the right financial solutions based on your situation.  CUNA Mutual Insurance Society is a part of the CUNA Mutual Group and has been serving credit unions and their members for over 65 years.  You can voluntarily 'opt out' of these mailings by notifying your branch. 

§         Welcome Credit Union is insured by National Credit Union Administration (NCUA) Share Insurance.  Not one penny of insured savings has ever been lost by a member of a federally insured Credit Union.

    We invite you to visit National Credit Union Administration (NCUA) share insurance web page for information about your insured funds.

http://www.ncua.gov/ShareInsurance/index.htm

The links below to the brochures ‘Your Insured Funds’ and ‘Your Federal Share Insurance’ will provide you with examples of insurance coverage under NCUA’s rules.  They will help you understand your share insurance protection.

http://www.ncua.gov/Publications/brochures/insured_funds/funds.pdf

http://www.nafcu.org/Content/NavigationMenu/Products/Products1/FS_Insurance.pdf

Please feel free to phone CUNA Mutual if you are interested in the following insurance products or additional information.