The CU Insurance Solutions 2016 CU Survivor event took place on Sunday, September 11, 2016, at Maine Forest Yurts “Survivor Camp” in Durham, ME. ‘Castaways’ from CU Insurance Solutions credit union clients were chosen following a 3 month GAP promotion to compete in a series of fun challenges. The challenges determine which “Credit Union Castaway” would win the grand prize of a weekend stay on Chebeague Island, Casco Bay, Maine.
Posts Categorized: News
Military Lending Act and MAPR Addendum to Loan Forms Solution
As you know, the new mandatory compliance requirements under the expanded Military Lending Act (MLA) take effect October 3, 2016 (except for credit card accounts). The final rule for credit card accounts will be effective October 3, 2017.
Employer Shared Responsibility Payment
If you are not already doing so, you may want to consider having employees complete waivers if they choose not to take medical coverage and keeping a copy of the waiver on file.
Small Group Renewal Rates and the New FSLA Overtime Rule
Renewal season is on the way, and I want to remind you that small group rates are only available 60 days in advance of the renewal. For CU Insurance Solutions employee benefits clients, I will be sending out your renewals as I receive them along with last year’s census for an update.
Commercial Insurance: Protecting Credit Unions from Risk Exposures and Vulnerabilities
Though commercial insurance is a necessity for every business, credit unions have many unique coverage needs based on the exposures and vulnerabilities inherent with financial institutions. However, adequate business coverage for credit unions is not a “one-size-fits-all” proposition. The insurance needs of an institution can vary greatly based on individual risk factors.
ACA Update – Opt-Out Payments
As you know, under the ACA employees who have access to ‘affordable’ health insurance from their employer are not eligible for subsidies, and large employers (50+ FTEs) must offer affordable coverage. This year (2016), affordable means that the employee’s portion of individual health insurance premiums is less than 9.66% of their household income; in 2017… Read more »
Member Products: The Key to Loan Portfolio Sustainability and Growth
Perhaps one of the greatest opportunities that credit unions have to sustain and grow non-interest income today exists with offering ancillary loan protection programs to members. Products like GAP, Vehicle Service Contracts, and Credit Life & Disability insurance help credit unions increase non-interest income, protect members when life interferes with their ability to repay loan… Read more »
Trust Tips – GAP to the Rescue
A recent real-life GAP claim from one of our credit union clients. Make: Ford Model: F-150 Year: 2006 Mileage: Wicked High (a Maine pick-up truck!) Financed Amount: $18,300 NADA value: $16,075 The truck was totaled just 2 months after it was financed. The Bad News The members auto insurance company assessed the value of the… Read more »
CU Insurance Solutions Supports America’s Credit Union Museum Legacy Campaign
America’s Credit Union Museum, located in Manchester New Hampshire, is currently more than two years into their three-year legacy campaign with the goal of raising $3.3 million dollars by 2017. CU Insurance Solutions held its semi-annual lending school at the museum this spring with guest speaker Brett Christensen for staff and management from 27 credit… Read more »
14th Annual Special Olympics Maine Golf Tournament
CU Insurance Solutions along with our subsidiary Equinox Financial & Insurance Services will be holding our 14th Annual Golf Tournament on Thursday July 21, 2016. This tournament is our largest fundraiser for Special Olympics Maine and will take place at Spring Meadows Golf Club in Gray, Maine. Tee off will be at 9:00 am with… Read more »