Generate Fee Income

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TotalRestart


TotalRestart goes one step above traditional GAP coverage. It rewards your members with up to $10,000 in benefits if they finance their replacement vehicle with your credit union. This is a credit union paid membership loyalty program, which protects your members’ large down payments and depreciating equity. Increase sales, fee income and member loyalty with this product.

  • When bundled with GAP, protects member from rapid depreciation
  • Improves GAP penetration resulting in stronger fee income
  • May offer as an alternative to GAP to protect large member down payment
  • Fully automated and easy for loan staff to present

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Debt Cancellation

A mainstream product, Debt Cancellation offers unique benefits not available in most traditional credit insurance plans. Chief among these is protection which will pay a borrower’s monthly payment in the event of Involuntary Unemployment. Life and disability are also included. Loan officers appreciate the opportunity to present a new and exciting benefit, which they find appeals to many borrowers. Our trusted Insurance Partners, are all rated “A” or better. Four basic programs: life; life & disability; life, disability & involuntary unemployment; and life & involuntary unemployment.

  • Competitive commissions to maximize revenue from fee income
  • Integrated “Conmar Systems” forms
  • Customized “Lifestyle Analysis” training to maximize conversation techniques
  • Simplified sales tracking and reporting to promote coaching and lender accountability

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GAP - Guaranteed Auto Protection

Cherry Creek partners with FROST Financial Services, serving over 1,050 financials nationwide to provide GAP protection. As an industry leader, FROST is first to market on these competitive advantages: 

  • Free NADA
  • Prior debt coverage
  • 150% of book value vs. 125%
  • Same pricing for vehicles, boats, ATVs, snowmobiles, motorcycles
  • Real time Chat Line support to build lender confidence
  • Integration with multiple loan systems and warranty providers
  • Menu-based selling tool


Daily sales reporting and monthly contests to incent lenders.

Contact us for a free, no obligation demonstration and delivery of customized training strategies to build GAP success!

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Auto Deductible Reimbursement

Looking for a way to build value and loyalty with your borrowers? The Auto Deductible Reimbursement Program reimburses your member’s deductible up to $500 in the event of a car accident.
This product covers the vehicle your member uses as collateral for their loan as well as all vehicles they own and insure!  Auto Deductible Reimbursement is a great way to add member value, and improve the sale of GAP and Vehicle Service Contracts.

  • Provide added incentive to the purchase of GAP and Vehicle Service Contracts
  • Increase credit union GAP sales by an average of 20%
  • Benefit paid directly to your member, not applied to the loan balance
  • Generate Fee Income

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Vehicle Service Contracts

How do most borrowers pay for unexpected vehicle repairs? You guessed it, with their credit card. Vehicle Service Contracts help members budget for repairs without the pain, uncertainty, and burden that emergency repairs bring. Cherry Creek partners with two industry leaders that provide best-in-class vehicle service contracts for credit union members. Want to take control back from the insurance companies and administrators? How would you like to receive annual profit sharing checks normally reserved for them? With an industry exclusive, we can do that, too.

  • Bumper to bumper protection offered on high mileage vehicles 
  • Improve lender satisfaction with gray area claims approval
  • Lender call center assistance for getting quotes and answer questions
  • Capture additional non-interest income, earning 100% of underwriting profits 
  • Backed by Allstate®

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Mortgage Life & Disability

Much like credit life insurance, the Mortgage life benefits retire the loan balance in the event of death, while the disability protection provides loan payments in the event of covered income disruption. If the loan is sold into the secondary market, your credit union will continue to earn valuable fee income since premium payments are debited from the borrower’s checking or savings account. This preserves both your relationship and your revenue stream. Leverage your mortgage loan production and gain a valuable fee income stream for years to come!

  • Protect one of your member’s most important assets
  • Capture portable fee income for your credit union
  • Stabilize member’s lifestyle and provide peace of mind with income protection

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Accidental Death & Dismemberment

Accidental Death and Dismemberment (AD&D) provides benefits to your account holders or their beneficiaries for a number of accidental events including loss of life, sight, or limb without many of the common age or health related restrictions. Cherry Creek Financial offers several choices of vendors to gain the best independent AD&D quotes available. With the growing dependence upon fee income as a revenue stream, it makes sense to get a second opinion. Eligible participants may also cover their spouse and unmarried children under age 19 (25 if full-time student).

  • Integrated marketing campaign
  • Personalized Insurance Website
  • Online enrollment