Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
CUNA Mutual, State National provide auto coverage
MADISON, Wis. (2/10/14)--CUNA Mutual Group and State National Companies are collaborating to inform credit union members of coverage available through the TruStage auto insurance program.

The coverage helps protect more members by making information about car insurance accessible at a time when members are most likely to be looking for it, CUNA Mutual Group and State National Companies said.  
 
When members take out an auto loan at their credit union, they are required to maintain collision damage insurance coverage on their vehicle. CUNA Mutual Group and State National formed a tracked collateral-protection insurance (CPI) alliance in 2009 to protect credit unions in the event borrowers default on a loan and uninsured collateral is damaged.
 
If it is unclear whether a vehicle is insured, State National will send the member a notice requesting proof of insurance. Beginning this quarter, those notices will contain information about the TruStage Auto Insurance Program--which is underwritten by Liberty Mutual--provided the credit union is a CPI alliance customer and also makes the TruStage auto insurance program available.
 
"The cross-marketing initiative will help members learn about money-saving opportunities at a key moment in the credit union lending event," said Stephen Arnold, vice president, CUNA Mutual Group, TruStage Auto and Home.
 
Response rates for the TruStage Auto Insurance Program offer on CPI notices were 2.5 times better in initial testing than usual direct response rates. "Providing members with information about the right product at the right time helps credit unions deliver the most value with their CPI and TruStage auto insurance programs," Arnold said.
 
Existing customers of the alliance and the TruStage auto insurance programs can access this feature in March. Other credit unions must participate in both programs.
Other Resources

CUNA Mutual Group
RSS print
News Now LiveWire
Even 1 step makes a difference in preparing for disasters #creditunions #NewsNow http://t.co/eFUmMJnIwA
7 hours ago
From today's @USATODAY front page, a shout out to #CreditUnions courtesy of @CUNA http://t.co/881vLPeECN
8 hours ago
Happy anniversary to the ATM! 45 years of self-service cash HT @GOBankingRates http://t.co/ycsm3GFwk5
10 hours ago
.@USATODAY print edition features #creditunion membership march to #100mm. Zoom in on lower left hand corner #NewsNow http://t.co/Xv8fyX7ces
10 hours ago
No special assessment for ASI member #creditunions in 2014. See #NewsNow http://t.co/NwL9eJwbiQ
10 hours ago