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Is Your Credit Union Maximizing its Insurance Distribution Potential?

Did you know that federally insured credit unions issued almost $500 billion in total loan volume during 2005? Of this total, first mortgage and auto loans accounted for the large majority. This fact alone exemplifies the tremendous opportunity for credit unions to cross-sell insurance products to their members.

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Did you know that federally insured credit unions issued almost $500 billion in total loan volume during 2005? Of this total, first mortgage and auto loans accounted for the large majority. This fact alone exemplifies the tremendous opportunity for credit unions to cross-sell insurance products to their members.

You might be asking yourself, “How can loan volume generate insurance income and other benefits for members?” The answer is simple, all home and auto lenders require borrowers to obtain adequate insurance coverage. This fact creates a unique point-of-sale opportunity for credit unions. Insurance is a relationship-oriented industry and credit unions are in the relationship business.

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