CUNA Mutual CUDLs With IndirectLender
MADISON, Wis. - (10/18/04)-- CUNA Mutual Group said it is joiningwith CU Direct Corp., which runs the CU Direct Lending program, tooffer Guaranteed Automobile Protection (GAP) to members buying newand used cars at dealerships participating in the CUDL program. Theprogram will be offered in select markets. The coverage supplementsinsurance to fully protect members from loss if a vehicle isdamaged beyond repair or stolen. With the high cost of automobiles,there is often a large gap between the insurance settlement afteran accident or theft and the amount a member owes on the loan. GAPpays that difference so members are not burdened with loan paymentson a car that, for all practical purposes, no longerexists.