AurGroup Financial Credit Union

We need proof of insurance from member back to 3/9/and we must also be listed as lienholder on the insurance policy due to state lawMember was notified several times that we needed the insurance information in order to cancel the Collateral Protection Insurance placed on her auto loanWe
didn’t receive proof of insurance from the member until August 30, She had insurance through Safe Auto, however, were not listed as lienholderThis was explained to the MsNorman that we needed to be added on her policyAllied, our CPI company did a call out to Safe Auto on 9/23/and they were told that the lienholder was not added on until 8/28/and then policy canceled on 9/10/2016.Three notices go out to the members that we need proof of insurance and need to be listed as lienholder so that CPI is not added to the loan.Now we need proof of insurance also from 9/10/since her policy has canceled.When CPI is added to a loan, that amount is divided by and then that is added to the original loan payment for monthsAs long as member keeps up on new payment amount then it will go back to the original payment when loan was taken out.Hopefully, this answers any questions regarding this but if you need anything else on this; don’t hesitate to contact me.Sincerely, *** *** *** Collection Supervisor *** ***