Welcome Federal 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 Federal 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. 

§         We have an insurance tracking service provided by Evans, Simpson & Associates, Inc. You may receive a letter from us asking you to provide proof of valid insurance coverage on the vehicles and/or mortgages you have financed through WFCU. To prevent insurance premiums from being added to your existing loan balance, it is important that you follow the instructions in the letter and provide the requested information. The insurance tracking customer service center can be reached at 1-800-635-5142 or visit the web site at: www.wehaveinsurance.com.

§         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 Federal 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. 

§         MEMBERS® Auto and Homeowners Program – You trust WFCU to provide you and your family with quality products and services to meet your financial needs. We’ve joined with a dedicated team of insurance professionals to bring you the MEMBERS® Auto and Homeowners Insurance Program.

• MEMBERS Auto and Homeowners is the property and casualty coverage solution preferred by the most credit unions and their members.
• Convenient e-service – pay your bill or make changes to your policy, even report a claim.
• Receive fast, easy access to claims service 24-hours a day.
• Obtain a free no obligation quote or locate an agent at the local Liberty Mutual sales office.

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The MEMBERS Auto and Homeowners Insurance Program is underwritten by leading insurance companies, including Liberty Mutual Insurance Company and its affiliates, 175 Berkeley Street, Boston, MA. The insurance offered is not a deposit and is not federally insured or guaranteed by the credit union.

§         Welcome Federal 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/Resources/ShareInsuranceToolkit.aspx

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/Resources/ShareInsurance/YourInsuredFunds.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.