What We Offer

The in-house advantage: Credit Unions First drives revenue through innovation and efficiency. Using tailored solutions and a cloud-based dashboard, credit unions gain direct management access to their insurance products and keep a significant portion of the shared dollars and commissions that otherwise would go to the insurance provider.

Discover The Benefits

Credit Unions First offers a cloud-based management platform and various financial services, including revenue opportunities and insurance services. We promise transparency and excellent customer service.

CU Benefits

More Control of Your Collateral Protection Plan
Credit Union Customizes the Plan with Complete Coverage Options and Flexible Pricing
Non-Interest Income by Posting Unused Premium Reserves to Your Books
Protected Loan Loss Reserves
New Efficiencies
Employee and Member Friendly Services
Compliant And Not a Target of The CFPB, Unlike Force-Placed CPI
Experience Reduced Loan Delinquencies and Repossessions
Real-Time Cloud-Based Program Performance Data – 24/7/365

Blanket Lenders Single Interest

	Traditional CPI (Forced Placed Insurance)	Credit Unions First's Blanket LSI (Lenders Single Interest)
Post New Reserves
Manage Risks
Non Interest Income
24/7/365 Platform
Control
Loan Delinquency
Repossessions
Premiums

For Members

Eliminates forced-placed disruption and expense.
Does not create additional financial burden on the member.
Only borrowers pay premiums, not the entire membership.

For Credit Unions

A true ‘People Helping People’ solution.
Staff friendly — no insurance tracking.
100% transparency.
24/7/365 cloud-based dashboards in proprietary Navigator platform.
New noninterest income.
Regulator compliant — CFPB takes action against Fifth Third.

For Insurance CUSOs

Commissions, 100% product penetration.
Easily managed through Navigator platform.

The following states have statues, regulations, or interpretations which do not permit a financial institution to pass the Lenders Single Interest (LSI, or Blanket VSI) premium on the borrower: *

Alabama, Delaware, Michigan, Missouri,
Nebraska, New Jersey, Pennsylvania, Texas

It is our understanding that, under current laws and regulations, a financial institution may pass the Lenders Single Interest premium on to the borrower in the remaining states.

If you have a question about a particular state, please contact our office and we will check with the carrier to verify.

* As verified with Great American Insurance Company, 10/28/2014

Vehicle Service Contract

For Members

Claims process controlled by the credit union covering more claims.
A true $0 deductible plan.
We offer Comprehensive Coverage and Benefits
Our plan pays Full Retail rate on Parts & Labor

For Credit Unions

A VSC that staff can be proud to offer.
100% control of claims process.
100% return of underwriting profits.
Claims not deducted from refunds.
Improved dealer relationships as credit union is now helping drive profits in the service department.
Can be offered through indirect dealerships.

For Insurance CUSOs

Commission structure based on credit union relationship.
Increased penetration from credit union lending staff training.
Credit unions manage to reduce staffing needs.

Consider:

Does your current VSC administrator disclose their administrative fee and how does this administrative fee impact your loss ratio?

The average VSC premium is $1,200. Industry average loss ratio: 50.1%. Who keeps the remaining 49.9% in your current relationship?

What happens to the funds intended to pay claims when a member's claim is denied?

Does your credit union have a say in claim approvals/denials?

What does your penetration level compared to GAP tell you about your current VSC program?

What We Offer

Discover The Benefits

CU Benefits

Blanket Lenders Single Interest

For Members

For Credit Unions

For Insurance CUSOs

Alabama, Delaware, Michigan, Missouri,
Nebraska, New Jersey, Pennsylvania, Texas

Vehicle Service Contract

For Members

For Credit Unions

For Insurance CUSOs

Consider:

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What We Offer

Discover The Benefits

CU Benefits

Blanket Lenders Single Interest

For Members

For Credit Unions

For Insurance CUSOs

Alabama, Delaware, Michigan, Missouri, Nebraska, New Jersey, Pennsylvania, Texas

Vehicle Service Contract

For Members

For Credit Unions

For Insurance CUSOs

Consider:

Latest News

Contact Us

Alabama, Delaware, Michigan, Missouri,
Nebraska, New Jersey, Pennsylvania, Texas