Insurance Products

Automobile GAP (Guaranteed Asset Protection) Insurance

You could lose more than your vehicle if it is stolen or involved in a major accident. For the low cost of $250 you can protect your investment with GAP (Guaranteed Asset Protection). Most insurance policies only cover the value of the vehicle - something that rapidly declines during the first few years of ownership - your loan value could be higher than the value of your vehicle. GAP Insurance protects you for the difference between what your vehicle is worth and the pay-off amount (up to the limits of the coverage you purchase) of your loan in the event your vehicle is damaged beyond repair or stolen.  

You purchase a vehicle for $30,000 and at the time that is what the vehicle is worth. After driving the vehicle for a year the value drops to $20,000 and you still owe $24,000. If you were to get into an accident the insurance company would then pay you for the value of the car not what is owed on the car, leaving you with a $4,000 bill to repay. If you had taken out the GAP policy, then GAP Insurance would cover the $4,000 plus GAP will give you $1,000 towards the purchase of a new vehicle if it's financed through Northeast Community Credit Union.

 NEW!!!!!

If you have purchased your vehicle in the last 18 months and did not elect to take the GAP policy at the time of financing you can still purchase GAP Insurance. The GAP insurance can be added to your loan so that you won't have any out of pocket expense.

PLEASE see a loan officer for full details.

Term Life Insurance

If you are like most people, you may already have some life insurance coverage. But, if you haven’t updated it lately, it may not be enough. That’s why we’ve worked hard to develop a life insurance program customized for our members. This program uses the buying power of our strong membership to bring you the most affordable rates on the coverage you may need to protect those you care about the most.

Coverage options

Choose a benefit amount of $10,000, $15,000 or $25,000. Keep in mind, the benefit amount you choose will automatically DOUBLE if you suffer a covered accidental death.

Benefits are NEVER reduced

Long Lasting Coverage until you reach 120 years old

You will never be singled out for a rate increase

30 Day Free Look – Each certificate come with a money back guarantee for 30 days