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Routing # 314092128

Payment Protection Products

Loan Payment Protection

When an unexpected tragedy occurs, Payment Protection can help pay off your financed loans in the event of death, or make payments on your behalf if you become disabled or have involuntary unemployment. In this day and age, the loss of a paycheck - even temporarily - could cause financial ruin. Payment Protection gives you the kind of security you need in our uncertain world. By adding Payment Protection* to your loan, it can help you:

  • Eliminate all or part of your remaining loan balance
  • Protect your credit rating as loan payment obligations are made on your behalf
  • Prevent late fees
  • Create financial security for your family
  • Free up extra cash when it's needed most

Payment Protection is affordable and may cover both you and your co-borrower. The cost is factored right into your loan payment, giving you one less thing to think about!

*Your purchase of Payment Protection is optional. Whether or not you purchase Payment Protection will not affect your application for credit or the terms of any existing credit agreement you have with Synergy FCU. There are eligibility requirements, conditions, and exclusions that could prevent you from receiving benefits under Payment Protection. You should carefully read the contract for a full explanation. Payment Protection may be available for personal credit cards, auto loans, personal consumer loans, and home equity loans. Administered by SWBC.

Major Mechanical Protection

Vehicle repairs can be expensive - even the smallest repair can cost hundreds of dollars. While most new vehicles are covered by a manufacturer's warranty, that coverage won't last forever, and most used vehicles aren't covered by any type of warranty. Major Mechanical Protection (MMP) can help cover the expenses of unexpected vehicle repairs and protect your budget from high out-of-pocket expenses. Even the most dependable vehicles can experience significant repair costs. By adding MMP, you can gain peace of mind knowing you're protected for the road ahead.

MMP Coverage* Features and Benefits:

  • Affordable coverage that can usually be added to your loan, with low monthly payments
  • Can be used at most licensed repair facilities
  • Fully transferable to a new owner if you sell your car
  • May increase resale value of your vehicle by helping you keep your vehicle in top condition
  • Safety and convenience while on the road:  24-hour roadside assistance; Rental car reimbursement; Trip interruption reimbursement; Lost key, lockout, and emergency tire repair

*Major Mechanical Protection is considered insurance coverage in some states. The purchase of MMP is voluntary and cannot by required as a condition of the loan. This summary content is limited and only provides a general summary of available plan options. Be sure to read your specific contract/policy, as all benefits are subject to the terms and conditions of the contract/policy. Administered by SWBC. License #0516221

Guaranteed Asset Protection (GAP)

GAP Advantage with PowerBuy - Accidents happen. Get the coverage you need to protect your investment. 

If your vehicle is declared a total loss after an accident or theft, it's likely your insurance will fall short of covering the full balance of your auto loan. This leaves you to pay off the remaining loan balance on a vehicle you can no longer drive - fortunately, we can help. GAP Advantage can pay up to the remaining balance of your auto loan after an insurance payout, protecting you from financial loss. With PowerBuy, you will get the additional benefit of coverage for your vehicle's depreciation. Unlike traditional GAP, this program has the added benefit of providing you with a set allowance toward financing a replacement vehicle with us - getting you back on the road!

*The purchase of GAP Advantage with PowerBuy is voluntary and cannot be required as a condition of loan approval. GAP Advantage with PowerBuy is a loan deficiency waiver and is not offered as insurance coverage in most states. The contents here are limited and only provides a general summary of plan options that are available. Be sure to read your specific contract, as all benefits are subject to the terms and conditions of that contract. Skipped or missed payments, late charges, refundable service warranty contracts, other insurance-related products, and interest charged after the date of loss will be deducted from the settlement. Loans originated within one year are eligible for GAP Advantage with PowerBuy. Certain exclusions may apply. Administered by SWBC. License #2870.