ILWU Credit Union

Protect Yourself, Your Family, And Your Loan

The ILWU Credit Union offers optional protection services you may request when applying for Auto and Personal Loans. These services include: Credit Life and Disability Insurance, GAP Advantage , and MBI (Mechanical Breakdown Insurance).

Credit Life and Disability

With Credit Life and Disability protection, you'll find comfort in knowing that an illness or injury doesn't have to become a financial burden. Credit Life and Disability is offered for personal and auto loans.

Credit life may pay off your eligible loan balance should you die before paying off your loan. Credit Disability makes your monthly loan payment (up to $600 per month) should you become disabled due to a covered illness or injury.

GAP Advantage

If your vehicle is stolen, and not recovered or "totaled" in an accident and cannot be repaired, GAP may cover the difference. GAP will protect your investment, not just its value. This is a non-insurance product and the ILWU Credit Union offers this product for new and used vehicles. The following is a typical example of how GAP Advantage comes through for you:

Original purchase price....................$25,000

Loan balance after one year.............$20,000

Insurance settlement covering
vehicle's current value.....................$16,000

Your remaining loan balance is $4,000, GAP will pay the difference and an additional $1,000 towards the purchase of a replacement vehicle.

MBI (Mechanical Breakdown Insurance)

When your vehicle needs repair, it's nice to know that you are covered by a protection plan with a guaranteed low deductible long after the manufacturer's warranty has expired. Without protection you could be facing large unpredictable bills - and the cost of repairs will only increase during the time you own your vehicle. You have medical insurance, why not have car repair insurance?

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