Centra Credit Union

We received the complaint made by Mr*** *** regarding the forced placed insurance on his auto loan with ***.Mr***’s signed an agreement to provide insurance on 10/21/when he purchased his vehicleWhile insurance policy information through *** Insurance was initially provided on
11/7/we received a cancelation notice from *** on 5/8/Mr*** was sent a first notice regarding the cancelation of his insurance and need to provide new insurance information on 5/24/or Collateral Protection Insurance (CPI) would be added to the loanA second and final notice was sent to Mr*** on 6/28/CPI was placed on 7/19/at a cost of $1,after Mr*** failed to provide proof of insurance as he agreed on 10/21/Proof of insurance was provided on 8/14/17, with a start date of 8/3/and a prorated refund amount of $1,was credited to Mr***’s loanThe difference of $was the payment for the CPI insurance from the date of 5/8/through 8/03/If proof of insurance can be provided for the vehicle for these dates from *** or any other acceptable insurance carrier, then difference will be refunded as well.If Mr*** has any questions regarding his responsibilities to *** regarding his auto loan and insurance requirements, the signed agreement can be provided directly to him.Sincerely,*** ***Risk Management Director*** Credit Union

We received the complaint made by Mr. [redacted] regarding the forced placed insurance on his auto loan with [redacted].Mr. [redacted]’s signed an agreement to provide insurance on 10/21/16 when he purchased his vehicle. While insurance policy information through [redacted] Insurance was initially provided on...

11/7/16 we received a cancelation notice from [redacted] on 5/8/17. Mr. [redacted] was sent a first notice regarding the cancelation of his insurance and need to provide new insurance information on 5/24/17 or Collateral Protection Insurance (CPI) would be added to the loan. A second and final notice was sent to Mr. [redacted] on 6/28/17. CPI was placed on 7/19/17 at a cost of $1,921 after Mr. [redacted] failed to provide proof of insurance as he agreed on 10/21/16. Proof of insurance was provided on 8/14/17, with a start date of 8/3/17 and a prorated refund amount of $1,468 was credited to Mr. [redacted]’s loan. The difference of $453 was the payment for the CPI insurance from the date of 5/8/17 through 8/03/17. If proof of insurance can be provided for the vehicle for these dates from [redacted] or any other acceptable insurance carrier, then difference will be refunded as well.If Mr. [redacted] has any questions regarding his responsibilities to [redacted] regarding his auto loan and insurance requirements, the signed agreement can be provided directly to him.Sincerely,[redacted]Risk Management Director[redacted] Credit Union