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Blanket LSI is a Win-Win for Member Experience and Credit Union Growth
10/29/2024
Blanket LSI is a Win-Win for Member Experience and Credit Union Growth
In this follow-up episode of Member’s First Mindset, host , Chief Strategy Officer, and guest co-host , Co-Founder, continue the discussion from "Is Your Collateral Protection Program Hurting Your Members?" Joined again by CFO, and COO, they explore how transitioning from force-placed CPI to Blanket Lender’s Single Interest (LSI) insurance has brought meaningful improvements to member experience, operational ease, and financial outcomes. Dan, Jon, Jeremy, and Ashley share updates on their journey over the past 18 months, focusing on how this innovative program empowers credit unions to “Earn more, keep more, and serve better.” Points of interest 00:00 Introduction and Recap of Previous Episode 00:21 Meet the Hosts and Guests 01:08 Jon’s Path from Force-Placed Insurance to LSI 03:21 Discovering Blanket LSI: A Solution with Impact 04:30 Building Transparency with the Navigator Platform 05:38 AMOCO’s Transition Journey with Blanket LSI 08:58 Improved Member Experience and Operational Ease 09:49 Financial Impact on Repossession and Loan Performance 10:54 Insights Gained: Reduced Delinquencies and New Efficiencies 13:45 Net Benefit Calculations: Measuring the Financial Impact 14:34 Real-Time Premium Adjustments and Loss Ratio Control 15:51 Reflections on Success and the Road Ahead 18:00 Final Thoughts If your credit union is ready to enhance member experience and streamline operations, consider exploring the benefits of Blanket LSI for your collateral protection program. to learn how Credit Unions First can help you “Earn more, keep more, and serve better."
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