Loan Protection Products – Downeast Credit Union
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LOAN PROTECTION PRODUCTS

At Downeast Credit Union, we create opportunities through loans and other accessible products that help to enhance our members financial wellness and allowing them to live life to the fullest. By offering additional products for your loans, we give our members the ability to protect your families, your credit, and your assets. Not to mention, you’ll have peace of mind knowing that when one of life’s unforeseen circumstances arises, you don’t have to worry about late payments, costly auto repairs, etc.

Products available to our members:

 

GAP PLUSGAP PLUS is Total Loss Protection…and then some.

The moment you drive your vehicle off of the lot, it depreciates about 20% on average. And you can count on roughly a 15% decline in value each year for the next four years. If your vehicle is stolen or damaged and deemed a total loss, you are responsible to pay the difference between what you owe and what your insurance company says your vehicle is worth.

GAP PLUS can help cover the difference and potentially save you thousands of dollars.

What is the “PLUS”?
The “PLUS” is the additional benefit of a $1,000 deduction toward your next vehicle loan at this institution if financed within 90 days of the GAP claim settlement.

Getting protection in the event of a total loss is easy!
Most types of vehicles are eligible, and you can generally include GAP PLUS
coverage in your vehicle loan payment.

View the GAP PLUS brochure here.

For more information regarding our GAP protection program:

Contact Us

*This information is intended to provide an outline of the terms and conditions of the Guaranteed Auto Protection (GAP) PLUS program. Refer to your GAP PLUS Addendum or Certificate for all terms and conditions.

CU Certified Automotive LogoDowneast Credit Union has partnered with CU Certified to offer our members first-class Vehicle Service Contract options for purchase. Cover your vehicle and reduce the cost of future repairs…just think of the savings!

CU Certified Vehicle Service Contract

CU Certified provides Best in Class automobile mechanical breakdown coverage. CU Certified pays for the replacement of covered part(s) and the labor to install the failed covered part(s). We like to call CU Certified the “Real $0 Deductible Contract” as our program pays for diagnostics, taxes, fluids, and filters in conjunction with covered repairs. National acceptance, trip interruption, wrap coverage, and 24-hour roadside assistance are some of the ancillary benefits of coverage. Is your ride CU Certified?

  • View Vehicle Service Contract Brochure


    • CU Certified Road Hazard Tire & Wheel

    Protects members against the rough road ahead as an available surcharge to the CU Certified vehicle service contract. This enhancement covers the member for up to $1000 per incident with a $4000 coverage aggregate claims limit on their tires and/or wheels with a $0 deductible. Potholes, nails, broken glass, and road debris no longer need to be a costly out of pocket repair for credit union members.

  • View Tire and Wheel Protection Agreement


    • CU Certified GAP

    Pays the potential deficiency balance between the contract holders loan balance and insurance company’s actual cash value assessment of the contract holders vehicle if the vehicle is totaled or stolen an unrecovered for thirty days. Covers the contract holder’s insurance deductible up to $1000.

    CU Certified Powersports

    Best in class powersports mechanical breakdown coverage for the member. CU Certified pays for the replacement of covered part(s) and the labor to install the failed covered part(s) on members powersports units. ATVs, UTVs, personal watercraft, motorcycles, and snowmobiles…we have you covered!

  • View Powersports Service Agreement
  • View Motorcycle Service Agreement Brochure


    • *The Credit Union has contracted with Century Automotive Service Corporation and CU Certified to make these service available as a convenience to our Members. Century Automotive Service Corporation, CU Certified and any manufacturer’s warranties are not services of the Credit Union; and are not obligations of or guaranteed by the Credit Union. Credit Union makes no representations as to the services of any provider or any vehicles purchased. Programs may vary by dealer/lender/state. Please refer to your GAP Addendum or VSC for details of the terms, conditions, limitations, and exclusions that apply to this program. Maximum eligibility limits apply.

    Life is unpredictable but your finances don’t have to be.

    Protecting your loan payments in the event of unplanned events such as death, disability or involuntary unemployment, our debt protection program may cancel your loan balance or monthly loan payments* if you experience a protected life event.

    Types of protection available to you:

    • Disability
    • Death
    • Illness
    • Accident
    • Involuntary Unemployment

    What our members say about Debt Protection:

    “My husband and I had Debt Protection on 5 loans with DECU.  When my husband went out on permanent disability, Debt Protection paid $1,500 a month for 12 months.  In all, Debt Protection covered $18,000 while my husband was disabled.  Sadly, my husband passed.  But, the death coverage then paid off our VISA balance of $3,868. 

    Without Debt Protection, we would have struggled immensely to pay our bills and would have had to sell things that we had worked so hard to acquire. 

    Thank you DECU for an awesome product!” – Member

    Download Claim Forms

    *Debt protection could cancel your loan balance or payments up to the contract maximums. See a loan officer for eligibility requirements and programs details. Insurance and warranty products are not products of the Credit Union; and are not obligations of or guaranteed by the Credit Union. Insurance or warranties may be purchased from an agent or an insurance company of the Member’s choice; and Credit Union makes no representations as to the services of any provider.

    Chances are, your home may be your single greatest investment.

    Stop worrying about paying your mortgage in the event of your death or disability. Mortgage Life & Disability Insurance is a monthly-paid plan for mortgage related loans designed for today’s homeowners. This protection is created to provide benefits if you pass away or are unable to earn a living due to a covered sickness or injury. Benefits are applied directly to your mortgage payments and are subject to the coverage amount chosen and policy limits.

    Speak to our Lending Team to add Mortgage Life & Disability to your loans.

  • Learn more about Mortgage Life Insurance.


    • Insurance and warranty products are not products of the Credit Union; and are not obligations of or guaranteed by the Credit Union. Insurance or warranties may be purchased from an agent or an insurance company of the Member’s choice; and Credit Union makes no representations as to the services of any provider.

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    CALL A MEMBER SERVICE REPRESENTATIVE
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    1-800-427-1223

    Routing Number: 211288996