There are a number of protections available to members of MCLCU
Accidental Death and Dismemberment
Our members serve in some of the riskiest occupations in the country. You risk your lives and safety everyday.
Members of MCLCU receive $1,000 of TruStageâ„¢ Accidental Death and Dismemberment Insurance Coverage at No Cost.
One of the nice benefits of your credit union membership is a no-cost TruStage Accidental Death and Dismemberment (AD&D) insurance policy from CMFG Life Insurance Company. AD&D pays a cash benefit to you or your loved ones in the event of an accidental death or if an accident causes specific permanent injuries.
For greater protection, you can also add to your no-cost policy by purchasing up to $300,000 of additional coverage from CMFG Life. You’ll find the rates are designed to be affordable.
Benefits of Coverage:
- Guaranteed acceptance – no health questions or medical exams.
- Coverage available at a cost-effective, monthly rate.
- Cash payout is often not subject to income-tax.
- You’re protected whether at home, at work, on vacation or during travel.
Don’t miss this opportunity to take advantage of your credit union membership. Sign up now for your no-cost or additional AD&D insurance protection.
You can now also add Cancer, Heart Attack & Stroke Coverage. This is a living benefit that pays you $5,000 upon a covered diagnosis. The money you receive could help pay for out-of-pocket medical bills and daily expenses, helping to relieve financial stress while you focus on getting well.
TruStageâ„¢ AD&D Insurance is offered by TruStage Insurance Agency, LLC and underwritten by CMFG Life Insurance Company. The insurance offered is not a deposit and is not federally insured or guaranteed by your credit union.
Auto & Home Insurance
MCLCU is committed to providing its members with the best service at the lowest rates possible. That is why we have partnered with TruStage to provide members of MCLCU with the TruStage Auto & Home Insurance Program.
If you haven’t compared auto or home insurance rates lately, it’s a great time to take a look. Your credit union membership could result in some nice savings.
TruStageâ„¢ Auto and Home Insurance program is offered by TruStage Insurance Agency, LLC and issued by leading insurance companies. Discounts are not available in all states and discounts vary by state. The insurance offered is not a deposit and is not federally insured. This coverage is not sold or guaranteed by your credit union.
Mechanical Breakdown Protection
To help you avoid costly repairs MCLCU has partnered with Route 66¹ to offer Mechanical Breakdown Protection (MBP). MBP is an extended warranty to protect your vehicle in the event of a breakdown. By purchasing this protection, you will give yourself added piece of mind that if a breakdown occurs, you will not have large repair bills to pay for. This coverage can be purchased at any time and can be added to your loan or paid out of pocket.
Here are some of the benefits of this coverage:
- Coverage is available on new and used vehicles
- Repairs can be made at any Automotive Service Excellence (ASE) Certified Facility
- No deductible on covered parts or labor
- Claim Payments Made Direct to Mechanic (No pesky reimbursement process)
- No pesky reimbursement process with claim payments made directly to the auto shop
- Rental Car Allowance (amount varies per plan)
- Battery Coverage (Easy Street and Main Street plans)
- Repair or Replace your battery one time during the contract period (up to $65)
- Transferable coverage if you sell your vehicle before your agreement expires
Guaranteed Asset Protection (GAP)
Guaranteed Asset Protection, otherwise known as GAP is an optional insurance designed to protect the investment you made in your vehicle in worst-case scenarios. In the event that your vehicle is deemed a total loss by insurance or if your vehicle is stolen, GAP covers the difference between what you owe on your loan and what your insurance will pay. MCLCU has partnered with Route 66¹ to offer Gap Insurance.
Sign up for GAP when you apply for your vehicle loan.
Receive low-cost coverage with no red tape or application hassles.
Choose to roll the amount into your monthly loan payment or pay separately.
Enjoy a 60-day “free look” period that’s fully refundable.
Earn a $1,000 rebate toward your next Auto, Truck, Motorcycle, or RV Loan with MCLCU.²
Pays up to $500 of your auto insurance deductible.³
GAP Coverage Example (a hypothetical situation if you were to total your vehicle)
Your Loan Balance: $35,000
Your Insurance Company Settlement: $27,000
Total you Owe Without GAP: $8,000
Total you Owe With GAP: $0
3Â questions to see if GAP may be right for you
Do you owe more on the loan than what the vehicle is worth?
If you owe more on the loan than what the vehicle is worth, we recommend getting GAP coverage.
Do you have enough money in your savings to pay the difference between what you owe and what the vehicle is worth?
If you don’t have enough to pay the difference, or if you don’t want to pay the difference out of pocket, then we recommend you get GAP coverage.
How would you like a $1,000 credit towards the purchase of your next vehicle if you get into an accident and total your current one?
One big perk of GAP is you receive a $1,000 credit towards the purchase of your next vehicle that is financed through MCLCU if you total your current vehicle.²
As an added perk, Auto Deductible Reimbursement³ (ADR) comes with your GAP insurance.
- ADR covers any deductible up to $500 that the member files and pays with their primary insurance for 3 years from the purchase date
- UNLIMED claims per year during the coverage period
- ADR covers ANY vehicle the policyholder owns or leases and insures, not just the vehicle GAP was purchased for
¹ This product is offered by Route 66 Extended Warranty, a third party. Complete terms and provisions are contained within each Service Agreement. Please refer to your Service Agreement for complete details. This product is offered by a Midwest Coalition of Labor Credit Union associate who both accepts deposits on behalf of the credit union and sells nondeposit products on behalf of a third party.
² In the event of a Total Loss, Constructive Total Loss, or Unrecovered Theft to the Eligible Collateral listed on this GAP Waiver Addendum, you may be eligible to receive an additional credit from us, in the amount of $1,000. In order for you to receive this additional credit, you must finance or lease through us, within ninety (90) days after receiving final settlement from the Primary Insurer, or within ninety (90) days of the Date of Loss if you do not have Primary Insurance coverage, a replacement Eligible Collateral of the same type. The GAP Advantage credit has no cash value and will only be applied by us in the form of a credit towards the amount financed as shown in your replacement Eligible Collateral loan or lease.
 ³ The Auto Deductible Reimbursement Benefit Does Not Apply If:
- the Member does not have an in force Auto Insurance Policy on the Member’s Covered Auto at the time of a Loss;
- the claim under the Member’s Auto Insurance Policy is not covered or has been denied by the Member’s Auto Insurance company;
- the Loss does not exceed the in force Auto Insurance Policy deductible;
- the Member’s Auto Insurance company has waived the Auto Insurance Policy deductible under the Auto Insurance Policy;
- the Loss is for a Recreational Vehicle (RV), Trailer, Motor Home, All Terrain Vehicle (ATV), Motorcycle, Boat, Personal Water Craft (PWC) or any other vehicle that does not fall under the definition of a Covered Auto;
- the auto is used for commercial purposes or hire, or the auto is a commercial vehicle as defined by the manufacturer;
- the Loss is other than a Total Loss and the Member does not repair the auto
