What is Collateral Protection Insurance (CPI) and Does Your CU Need It?

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What is Collateral Protection Insurance (CPI) and Does Your CU Need It?

Every credit union has unique needs. It is important to take a holistic approach when exploring risk mitigation options.

Collateral protection insurance, or CPI, provides a solution by helping mitigate the risk credit unions incur when offering vehicle loans to borrowers. Because CPI can be helpful during all economic circumstances, it serves as both a short-term and long-term security measure.

Understanding how CPI works will help you decide if it is the best way to mitigate risk in your credit union. And if CPI is the best choice, this understanding will help you choose a provider that is best able to provide the protection and service you need to make your credit union’s CPI program is a success.

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