Boca Raton, Fla. (May 15, 2014) – IWS Acquisition Corporation (IWS) has announced enhanced eligibility guidelines for its Vehicle Service Agreements (VSAs) – providing credit union members extended protection of their vehicles.

For VSA contracts effective May 1, 2014, the company‘s Platinum product now covers current plus seven model years and up to 100,000 odometer miles (up from six model years and 75,000 miles). Its Gold product adjusts to current plus seven model years, up from current plus six model years.

With the rise in new car prices extending both the length of auto loans terms and the number of years consumers keep their cars, the IWS changes are well-timed, says CEO James H. Hawk.

“The trend is for more car loans to extend over longer periods of time,” said Hawk. “IWS has a reputation for proactively partnering with credit unions to develop VSA products that meet the changing needs of members, and we’re pleased to offer the longer-term protection they want, and in many cases, need.”

According to Hawk, IWS started work on these enhancements last fall, which are supported by a recent USAToday article citing Experian and J.D. Power data.

“This research states roughly 20 percent of all new car loans are for six years or more. And additional data from the research firm Polk shows the average age of vehicles currently on the road has increased to 11.4 years,” Hawk said.

“Keeping a car longer, together with longer loan periods, increases the chance that something will need to be repaired before the vehicle is fully paid off,” he said. “We’re happy to provide a value-added service that not only protects the member’s investment in a vehicle, but also allows our credit union partners to strengthen their relationships with members while protecting the collateral itself and preventing repossessions.”

For more than twenty years, IWS has provided Vehicle Service Agreements, Mechanical Breakdown Insurance (MBI), and Guaranteed Asset Protection (GAP) programs to credit union members nationwide.

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About IWS Acquisition Corporation

Based in Boca Raton, FL, IWS Acquisition Corporation is a well-known provider of Vehicle Service Agreements (VSA), Mechanical Breakdown Insurance (MBI), and GAP to credit unions nationwide. IWS provides vehicle protection solutions and peace of mind for credit union members that go beyond the actual products to include service after the sale. The company’s proven success in meeting this need is based on its ability to train credit unions to match members with the right product to fit their need. For more information, visit