Unlocking The True Value Of Your CPI Program: What You Need To Know

From payments to claims processing and beyond, understanding your collateral protection insurance needs is crucial to selecting the right partner.
From payments to claims processing and beyond, understanding your collateral protection insurance needs is crucial to selecting the right partner.
It has been shown repeatedly that the number of uninsured borrowers increases and losses grow larger when institutions move from CPI to a blanket policy.
Like water, the economy does not calm down immediately after a major disruption, and lenders must decide for themselves the best way to ride out the waves.
Insurance can be a cost-effective way for credit unions to boost the bottom line while helping members protect themselves, their families, and their assets.
Top-Level Takeaways CBC Federal Credit Union launched an insurance CUSO in August 2021 to provide members with money-saving options. As an added bonus, the CUSO also adds a new source of non-interest income. The CBC Insurance Agency has already surpassed its 100-policy milestone. The credit union now has plans to offer DMV registration services in-branch.
Retiring CLO stays on to lead the cooperative’s new emphasis on credit union service organizations, including its own.
The proper response will make a big impact but needs to be comprehensive and consider multiple risks.
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Today’s financial landscape demands strategic adjustments and innovative solutions to navigate these turbulent times.