Business View Magazine | October 2020

125 BUSINESS VIEW MAGAZINE OCTOBER 2020 121 F INANC I AL CREDI T UNION More Growth. Less Risk.  Mitigating risk in your credit union is critical to weathering today’s economic storms. One in eight drivers in the U.S. is uninsured, a number that will likely grow as consumers face increasing financial hardships, so making sure your auto and mortgage collateral is properly insured is essential.   The question is: What is the fairest, most efficient way to protect both while also creating the best possible member experience? Collateral protection insurance (CPI) stands out as the clear answer — IF it is part of a well-run, well-managed program.  With state-of-the-art tracking technology that updates insurance data in real time, borrowers only hear from the provider when there is no proof of insurance in place. Most will never even be aware the program exists. Proven Protection for Credit Unions The right tracking and lender-placed insurance program protects not only your portfolio, but also your member experience and the financial health of your institution.  We’ve partnered closely with credit unions of all sizes nationwide for nearly half a century to simplify the process of safeguarding loan collateral. Our programs provide comprehensive coverage, robust online tracking and tools, effortless claim filing, and the backing of the best service in the industry. ...... Simplifying Insurance So You Can Get to Business www.StateNational.com