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Journey Federal Credit Union



Loan Protection

Journey Federal Credit Union offers several products to protect you & your loan, including:

Details are listed below or you can call or stop by your local JFCU branch for more information - We're happy to help!

Credit Disability and Life Insurance

Credit Insurance may make your loan payments when you can’t

There’s no way to predict an injury, illness or other unexpected life event. You can take steps to protect your family if the unforeseen happens. Credit disability and credit life insurance may help reduce or pay off your covered loan, up to the policy maximum, in the event of a covered life event, injury, illness or death.

You decide which payments you want to protect and the monthly premium may be added to your loan. Coverage is designed to fit your lifestyle, it is totally voluntary, it won’t affect your loan approval, and it’s simple to apply. You can sign up at your loan closing, or anytime you’d like.

Call us at 989.224.9511 to find out more.

CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Your purchase of MEMBER’S CHOICE® Credit Life and Credit Disability Insurance, underwritten by CMFG Life Insurance Company, is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative or refer to the Group Policy for a full explanation of the terms.

CA Only: Claims may be filed by contacting your credit union. If you have questions regarding your claim status, contact CMFG Life at 800.621.6323. California Department of Insurance Consumer Hotline: 800.927.4357.
VT Only: Claims may be filed by contacting your credit union. If you have questions regarding your claim status, contact CMFG Life at 800.621.6323. Only a licensed insurance agent may provide consultation on your insurance needs.

CDCL-1457643.1-0316-0418, © CUNA Mutual Group 2016, All Rights Reserved

Guaranteed Asset Protection

If you have car insurance without GAP, a wrecked vehicle could wreck your finances.

You don’t expect your car to be totaled by an accident or stolen---but you get car insurance just in case. You probably don’t expect that your insurance settlement could suddenly leave you thousands of dollars in debt, because you owe more on your car loan than your car is worth. You’ll be glad to know there is a way to make sure a car wreck doesn’t wreck your finances: GAP, or Guaranteed Asset Protection for your vehicle loans.

If your vehicle is totaled, you could end up owing more on your loan than your vehicle is worth. This is known as being “upside down” on your loan. As vehicles become more expensive and people take out more loans for longer periods of time, their risk of being “upside down” has increased. Americans have signed up for a record amount of vehicle loan debt for a record length of time. Almost one out of every four car buyers took out a 6 to 7 year loan---which has extended their risk of being upside down to around five and half years.1

The reason for this problem is that most car insurance companies will reimburse you only for “fair market value.” Fair market value is the common resale value for a specific car (based on make, model, age, mileage, condition, demand, etc.) in a specific market. In some ways, fair market value doesn’t seem fair if your car is totaled, because you could end up owing more on your loan than the insurance company says your vehicle is worth.

The greatest gap between your loan value and the fair market value usually occurs in the first years of your loan. The second you drive your new car off the lot, it drops in value and keeps dropping. Value often drops 78% in one year, and 46% in 5 years.2 But your loan value doesn’t decrease as fast, creating a gap. It may no longer be enough to protect your car, you may want to consider optional loan protection as well.

Fortunately, you can now fill this gap and protect your loan and your finances with GAP. GAP is like an airbag for your vehicle loan. It can help fill the gap between what your vehicle insurance will pay and what you owe on your loan, to cushion you against sudden out-of-pocket expenses if your vehicle is totaled.

As a credit union member at Journey Federal Credit Union, you can sign up for GAP anytime. The best time is when you’re signing your loan paperwork.  You can include it with your monthly payments or pay separately by cash, check, charge, or electronic transfer.

To find out more, contact us at 989.224.9511. Enroll today.

1  Experian Study, 1st quarter 2014, from Daily Finance Financial Literacy, “Auto Buyers Set New Records, Load Up On Longer Loans”, June 2, 2014.

2  % for a typical vehicle in America. Edmunds, “How long should my vehicle loan be?”, March 2015.

Your purchase of MEMBER’S CHOICETM Guaranteed Asset Protection (GAP) is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the GAP Waiver Agreement for a full explanation of the terms of GAP. If you choose GAP, adding the product fee to your loan amount will increase the cost of GAP. You may cancel the protection at any time. If you cancel protection within 90 days you will receive a full refund of any fee paid. You will receive additional information before you are required to pay the fee for this product.

State chartered credit unions in FL, GA, IA, RI, UT, VT, WI may choose GAP with or without a refund provision. Prices of the refundable and non-refundable products are likely to differ. If you choose a refundable product, you may cancel at any time during the loan and receive a refund of the unearned fee calculated by the actuarial method.
State chartered credit unions in CO and SC may cancel at any time during the loan and receive a refund of the unearned fee calculated by the actuarial method.


Auto Deductible Reimbursement

ADR may help you avoid a wrecked vehicle wrecking your finances

Now you can also get Auto Deductible Reimbursement (ADR) with your purchase of GAP. ADR will reimburse you towards your comprehensive or collision deductible, up to the ADR policy maximum. This means there is one less expense you may have to worry about if something happens to your vehicle. Call us today to learn more about how you can add GAP with complimentary ADR to your vehicle loan.

Additional terms and conditions apply, complete details are provided in the Evidence of Coverage distributed upon our provision of the benefit to you. Auto Deductible Reimbursement Coverage will be provided to members under a blanket policy issued to participating credit unions. The Auto Deductible Reimbursement Coverage is underwritten by Voyager Indemnity Insurance Company (VIIC) in all states except GA. In GA, the Auto Deductible Reimbursement Coverage is underwritten by Reliable Lloyds Insurance Company (RLIC), both VIIC and RLIC are Assurant Specialty Property companies.


© 2015 CUNA Mutual Group, All Rights Reserved.

Mechanical Repair Coverage

Are you prepared to pay for costly vehicle repairs?

According to, car repair costs rose an average of 6.7% in 2013.1 How many times have you heard stories about cars that never broke down or had any mechanical difficulty, after the warranty ran out? According to a study by IHS Automotive, the average age of vehicles in American households was more than 11.3 years in 2013.2 Most new car warranties now last only four years, so the chances of having to pay for costly repairs increases during the remaining years of ownership.

Many car repairs now cost hundreds, if not thousands of dollars. Major repairs like replacing a car’s transmission costs an average of $1900.3 And even small repairs like a timing belt replacement cost hundreds of dollars. When a vehicle’s manufacturer warranty has expired or doesn’t provide coverage for certain mechanical problems, you could be left with a bill for unexpected and costly expenses beyond your monthly vehicle loan payment.

This is where adding MEMBER’S CHOICE® Mechanical Repair Coverage can help. It can help deflect some of the risk of costly repairs so you can afford to keep your vehicle running effectively for additional years without extraordinary expenses. With three different levels and deductibles of coverage to choose from there’s a plan available to fit your family’s budget.

Whether you depend on your car in commuting to work or accomplishing daily errands for your family, you need transportation that’s safe and reliable. In addition to regular maintenance, it’s likely the older your vehicle becomes the more repairs it will take to keep it running effectively. Making repairs that are good for the overall health of you vehicle could lead to fewer costs down the road.

Mechanical Repair Coverage can help you cover the unexpected costs of parts and labor and help keep your family on the road with effective transportation to accomplish your daily needs. If you’re planning to keep your vehicle beyond the lifetime of the manufacturer’s warranty, purchasing Mechanical Repair Coverage may be the right choice for you.

Check with your loan officer for more details on MEMBER’S CHOICE® Mechanical Repair Coverage, including benefits, limitations and exclusions today.

1 “Car repairs rise for second straight year,”, 4/9/14,

2 “Vital Signs: Americans Holding on to Their Cars Longer”, Kathleen Madigan, 1/3/14, The Wall Street Journal, americans-holding-on-to-their-cars-longer/

3 “Average automobile repair costs”, Auto Warranty Group, 6/23/2014,

Be sure to read the Vehicle Service Contract or Insurance Policy which will explain the exact terms, conditions, and exclusions of this voluntary product. Coverage will vary by state. MEMBER’S CHOICE® Mechanical Repair Coverage is administered by Consumer Program Administrators, Inc. in all states except AK and CA, where coverage is administered by Virginia Surety Company, Inc., in WA, where coverage is administered by Automotive Warranty Services, Inc., in FL, LA , OK and WI, where coverage is administered by Automotive Warranty Services of Florida, Inc. (Florida License #60023) and in AZ, where the Obligor and Administrator is Consumer Program Administrators, Inc., all located at 175 West Jackson Blvd., Chicago Illinois 60604, 1-800-752-6265. This coverage is made available to you by CUNA Mutual Insurance Agency, Inc. In those states where MEMBER’S CHOICE® Mechanical Repair Coverage is offered as insurance (form MCCU-001-MBI) it is underwritten by Virginia Surety Company, Inc.

© CUNA Mutual Group 2014, All Rights Reserved. MRC-955057.1-0614-0716


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