Preferred Member Auto Club
Your credit unions’ VIP auto loan
Our PMAC suite of services allow you to offer premier state of the art auto lending programs as well as protection products that we will tailor to your credit unions members as well the credit unions business philosophy.
Credit Insurance
Rates and Benefits are regulated by the state’s department of insurance.
Life – Terminal Illness & Dismemberment
- A benefit is paid in the event of death
- A benefit is paid in the event of diagnosis of a terminal illness
- A benefit is paid in the event of loss of sight in one eye, loss of a hand above the wrist or loss of a foot above the ankle
Accident & Health – 14 & 30 Day Plans
- A monthly benefit is paid if member is unable to work and is under a doctors’ care
- The Waiting Period can be either 14 days or 30 days
- The Elimination Period can be either 0 days, 14 days or 30 days
Debt Protection
Is a two-party agreement between the lender and consumer under which the lender agrees to waive all or a portion of the debt when a specified protected event occurs.
Life – Terminal Illness & Dismemberment
- A benefit is paid in the event of death
- A benefit is paid in the event of diagnosis of a terminal illness
- A benefit is paid in the event of loss an eye, hand or foot
Accident & Health – 14 & 30 Day Plans
- A monthly benefit is paid if member is unable to work and is under a doctors’ care
- The Waiting Period can be either 14 days or 30 days
- The Elimination Period can be either 0 days, 14 days or 30 days
- Critical Period – Benefit periods range from 3 payments up to full term
Involuntary Unemployment
- IU pays a benefit for a specified critical period in the event an insured becomes involuntarily employed during the term of coverage
Hospitalization
- A benefit is paid if member is hospitalized and under a doctors care for at least 3 days
Family Leave
- A benefit is paid if an approved leave of absence by employer requires member to attend needs of a family member due to accident or illness
Guaranteed Asset Protection – GAP
GAP may cover/waive the difference between the primary insurance settlement and the net outstanding balance on the collateral on the date of loss.
Collaterals covered include:
- Vehicles
- Motorcycles
- Boats
- Travel Trailers
- Recreational Vehicles
- Motor Home
Plus Benefit – If member suffers a GAP Benefit they are eligible for an additional benefit when they finance their next vehicle with the credit union.
Auto Deductible Reimbursement – After member files a comprehensive or collision claim with their primary insurance company, they are eligible to receive reimbursement for the deductible.
Mechanical Breakdown Protection
Vehicles, Motorcycles and RVs
With four levels of coverage, PMAC’s protection offers affordable options to fit your members budget and desires
Roadside Assistance – All plans provide reimbursement for emergency services
- Lock-Out Assistance
- Fuel Delivery Services
- Flat Tire Assistance
- Battery Service
Rental Vehicle Assistance
- In the event of a covered mechanical breakdown, member is eligible for alternate transportation expenses according to the schedule off the contract.
Tire Road Hazard
- Coverage for the repair or replacement of the vehicle’s tires if damaged due to a road hazard.
Trip Interruption
- In case of a mechanical breakdown that occurs more than 100 miles away from home and results in repair facility keeping vehicle overnight, member is eligible to be reimbursed for meals and lodging for up to three days.
Vehicle Protection
Dent Protection – Paintless Dent Repair
Tire and Wheel Protection
Windshield Repair and Replacement
Roadside Assistance
Rental Car Reimbursement
PMAC Product Marketing/Remarketing
Indirect Loans – Getting the most out of your indirect program is always the goal. Our systems allow you to market your protection programs to your indirect auto loans with the perfect mix of technology and personal touch.
Direct Loans – 2nd Look Program
- Our technology allows us to systematically follow up with marketing efforts on recently closed loans with your PMAC programs. Our system allows the member to add protection without an increase in monthly payment.
- Technology combined with the personal touch from our staff makes this program truly one of a kind.
Preferred Member Auto Club
If you would like to hear more about how we can help your financial institution provide better programs to your members, click below:
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Fortifying the Future
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For more information regarding the Preferred Member Auto Club, please download our brochure.
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