MTEFCU is now Breakwater Federal Credit Union

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Loan Insurance

By partnering with CUNA Mutual Insurance, we are able to offer a variety of affordable insurance products to meet your needs.

We plan our futures and make decisions based on what we know. We also know that life is filled with many unknowns such as unforeseen accidents or illnesses that can be made even worse by the resulting financial burdens.

For your peace of mind, your credit union is pleased to offer you important and valuable insurance options which protect you, your loved ones, and your credit rating.

breakwater waves

Loan Insurance

Credit Union Partnership Insurance Advantages:

  • Automatic eligibility for most borrowers
  • Simple enrollment process and forms
  • No medical screening or physical exams
  • Immediate coverage upon closing your loan


The following options are available:

  • Credit Life Insurance: Credit Life Insurance protects your family in the event you die before your loan is repaid. In this unlikely event, credit life insurance will substantially reduce or pay off the balance of your covered loans.  Premiums are paid monthly with your normal loan payment.

  • Credit Disability Insurance: Credit Disability Insurance protects you and your family in the event you become disabled through a covered illness or accident. The insurance will pay your monthly payments until you are able to return to work or your loan is paid in full or you reach you policy maximum.  Premiums are paid monthly with your normal loan payment.

  • GAP Insurance: GAP Insurance is available for automobile loans.  This insurance helps pay off any remaining loan balance that normal auto insurance doesn’t cover in the event of a qualifying accident. Premiums are paid in full at loan closing.  Full coverage auto insurance is required for GAP insurance to cover any remaining loan balance.



Disclaimer: Insurance products sold through or in the credit union are not insured by the National Credit Union Administration and are not issued, guaranteed, or underwritten by the credit union or the National Credit Union Administration or any other federal government agency.

That there is no requirement or obligation to purchase insurance from the credit union or any subsidiary, affiliate, or particular unaffiliated third party as a condition to obtaining a loan, and a decision as to insurance agents will not affect the credit terms in any way.  The credit union may not condition an extension of credit on an agreement not to obtain, or a prohibition on the applicant from obtaining an insurance product or annuity from an unaffiliated entity.

Closure notice

We will be closed on Monday, May 27th in observance of Memorial Day and apologize for any inconvenience.

Remember, you can perform most of your banking business via our mobile app or the two 24/7 deposit ATMs in our drive-thru!