1st Cooperative Federal Credit Union

ADDITIONAL SERVICES

Accidental Death & Dismemberment Insurance
As an eligible member, simply complete an enrollment form and you will qualify for $1,000 of 24-hour Accidental Death and Dismemberment Insurance at no cost. If desired, there is also additional coverage and a family plan available with a nominal cost.

GAP Protection
The Guaranteed Auto Protection ("GAP") reimbursement program pays, subject to terms of the program, the difference between your insurance company's settlement in the event of a total loss from accident or theft, and your loan balance. Why is this needed? Well, suppose you secure a loan; in the first two or three years depreciation occurs faster than the reduction in the loan balance. If theft or a total loss occurs, your insurance company will pay only the actual cash value of the collateral. The actual cash value may NOT pay off the balance of your loan. You are left with a "gap", an unpaid balance you still owe to the credit union.

Obtaining GAP protection is easy, inexpensive, and it eliminates the worry that you may be left with a "gap" or shortfall you will have to pay. Ask your loan officer for information when purchasing that car, boat, or motorcycle.

Loan Protection Insurance
Another advantage of being a member is free Credit Life Insurance on qualified loan balances up to a total of $40,000.

Life Savings Insurance
When you maintain a Share Account, you may be eligible to receive a special type of life insurance. This benefit is available to you at no cost and only at credit unions.