What is GAP Insurance?

Gap insurance is optional car insurance coverage that helps bridge the financial gap for drivers whose car loan balance is more than their vehicle’s worth if it’s totaled.

How does GAP Insurance Work?

If your vehicle is stolen or totaled in a situation covered by collision or comprehensive insurance, the maximum claim payout from your insurer is the value of the vehicle right before the incident. Gap insurance then pays the difference between what you owe on the car loan or lease and the value of your vehicle. Here’s how a typical gap insurance claim works:

You make a claim for your totaled or stolen vehicle under your collision or comprehensive portion of your policy (whichever coverage applies). Your insurer will pay your lender the actual cash value (ACV) of your car minus your deductible amount. If you owe more on your loan than the ACV, GAP insurance can pay the difference

Get GAP Insurance for FREE in the Month of May

When you finance your car of $10,000 or more, we’ll give you GAP insurance for free! Get a great rate on your car AND drive it in confidence with free GAP insurance. Act now before this great deal disappears.

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Your tickets will include a seat in a large theater with a digital screen and sound! You will assuredly be comfortable in your heated, reclining seat as you enjoy the family friendly comedy IF* starring Ryan Reynolds!  Kids are welcome at the discretion of guardian(s). Check in at the Northern KY Federal Credit Union table to receive a $15 Cinemark gift card for concessions that will be included with every ticket purchased.  The meeting will begin promptly at 11:15 AM inside the theater.  Door prizes will be awarded after the meeting and the movie will begin at 11:45 AM.

Tickets are $12 for credit union members and $10 for Savvy Saver members. (All non-member tickets are $25.) You can pay for your tickets at either credit union office or detach and send in the bottom portion of the attached letter.  All tickets must be purchased by May 7^th.

Three terms are expiring on the Board of Directors.  Each of these positions carry a three-year term.  These positions are on a voluntary basis.  The nominating committee has received the names of persons interested in the open positions.  They are incumbent Chris Bryant, incumbent Aaron Seyfried and incumbent Linda Wright.  Each of these volunteers have donated numerous hours to your credit union over many years.  They are to be commended for their dedication.

If you are interested in serving on the Board of Directors, please submit a background summary to:

Northern Kentucky Federal Credit Union

Nominating Committee

2805 Alexandria Way

Highland Heights, KY 41076

If you have any questions about these positions, please call the credit union office and ask for

Judy or speak to any current board member.  To be eligible for a position on the Board of

Directors you must be at least 18 years of age and be a member in good standing.  Voting will

take place at the annual meeting.

*Movie is subject to availability.  Movie may change without notice.

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To be eligible to skip your payment you must:

1. Have made at least 6 consecutive payments on the loan.  2.  Be current on all loans with the credit union.  3.  Have all accounts with the credit union in good standing.  4.  Not currently in bankruptcy.  5.  Never have caused the credit union a loss.  6.  Sign a form agreeing to extend the terms of the loan.  7.  Never have had a loan with the credit union that was 2 or more months delinquent.  8.  You can only obtain 3 Skip-a-Pays during the life of a loan. Subject to Credit Union Approval/Not all loans qualify.  For a full list of conditions and restrictions, read the Skip-a-Pay Policy and Agreement below.

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