Branches will be closing today, 10/4 at 3:30pm. IMPORTANT UPDATE: Online/mobile banking services are now live!
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GAP pays the difference between the outstanding balance on your loan and the vehicle’s actual cash value, determined by your auto insurance carrier if your car is totaled. Another feature to GAP Plus is if your vehicle is totaled, you will receive $1,000 towards your next vehicle’s down payment. This feature is available for the life of the loan.
We now offer GAP Plus – what does this mean to you? If you finance a loan through Carpenters Credit Union, you can add our GAP Plus protection for $525. This amount can be added to your loan amount, so no upfront cost to you.
GAP Plus covers your deductible up to $500 per loss, unlimited times per year for three (3) years. This covers any car that is registered to yourself and you must be a Carpenters member. Even if someone else is driving your car and gets into an accident, your GAP Plus protection is still available.*
Call the Claims Administrator at 877-296-4892 or go to www.assuranceplus.com/claims to request a claim form. Notice of the loss must have been provided to the claims administrator within 90 days of the date of loss. To process a claim the claims administrator must receive a completed and signed claim form along with the following required documents, within 180 days of the date of loss.
*Carpenters members have sixty (60) days to sign up for GAP Plus. Loss means an event for which the auto insurance company has approved and paid a collision or comprehensive claim which exceeds the Auto Insurance Policy deductible for the Covered Auto. This summary is a brief overview of the program and is not to be considered a full disclosure of policy terms. Please refer to the Terms and Conditions for complete forms, conditions, limitations, definitions, and exclusions.
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Federally insured by the NCUA
Carpenters Federal Credit Union is dedicated to promoting community development in all of the areas it conducts business and to provide affordable financial services to low-income people. In doing so, we will help them build assets & achieve financial stability.
Local: 651-646-8827
Toll Free: 888-815-8827
Fax: 651-646-1834
Routing # 296075807
NMLS # 644033