Tracked Collateral Protection Insurance Programs Can Help Protect Credit Unions’ Interests

Absorbing the full cost of auto loan write-offs caused by damaged or stolen uninsured vehicles usually isn’t a prudent option when a credit union’s bread and butter is its auto loan portfolio. But a “tracked” collateral protection insurance (CPI) program could help protect the credit union’s interest in the loan collateral.

Q&A: Benefits of a Tracked Collateral Protection Program

Al Olson, Collateral Protection Staff Underwriting Specialist for CUNA Mutual Group, offers insight into the positive impact a tracked collateral protection insurance program can have on a credit union’s auto lending program.