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The magazine of American Airlines Federal Credit Union
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This is how the Install App dialog will look like once your App goes live.
Many assume that our auto insurance will cover damages if a vehicle is stolen or wrecked, but this isn’t always the case. GAP provides an additional level of protection available for those who want it.
- You buy a new car for $30,000.
- After putting money down, you owe $25,000.
- Your car is totaled and your collision coverage payout equals the car’s depreciated value*.
- If that value is $23,000, you would have to come up with the remaining $2,000 to satisfy your auto loan.
Credit Union member Dominick S. was glad he had signed up for GAP. Dominick totaled his more than $28,000 car just one month after opening his loan. The insurance company only paid around $22,800, leaving Dominick on the hook for more than $5,000. Because he had purchased GAP when he took out the loan for his car, the remaining debt on the loan was canceled.
Be sure to ask about the qualifications and options when you finance your next vehicle at American Airlines Federal Credit Union.
– Bridget McCrea
Your purchase of MEMBER’S CHOICE™ Guaranteed Asset Protection (GAP) is optional and will not affect your application for credit or the terms of any credit agreement you have with us. Certain eligibility requirements, conditions, and exclusions may apply. You will receive the contract before you are required to pay for GAP. You should carefully read the contract for a full explanation of the terms. If you choose GAP, adding the GAP fee to your loan amount will increase the cost of GAP. You may cancel GAP at any time. If you cancel GAP within 90 days you will receive a full refund of any fee paid.
GAP-4178836.1-0122-0224
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Broader connectivity can come with a price
Consumers love being connected while enjoying seamless integration. Smart homes have led to smart neighborhoods — and it’s even extending beyond those borders.
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Boost your credit score
Your credit score — a three-digit number between 300 and 850, with 650+ generally considered good — offers landlords and lenders a snapshot of your overall credit history and financial health.
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Make a deposit right from your phone
That’s when little technological time-savers become invaluable. While everyone at the Credit Union loves interacting with our members, we also recognize you don’t always have time to swing by your nearest branch or deposit-taking ATM whenever you need to deposit a check.
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App safely
The Federal Trade Commission (FTC) has found mobile app developers are not always straightforward about what their products do. According to the FTC, 59% of apps collect and share information, though only 11% tell users they do and 84% of apps allow in-app purchases, opening people up to unexpected charges.
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Tax considerations
One thing each of-age American has in common is taxes. As April 15 approaches, one of the easiest things you can do is set aside a folder for paperwork and forms that will be coming in - either electronically or through the mail - over the next few months.
