Better Member Care = Automation of Voluntary Protection Product Cancellation
Member care is the solution to your regulatory compliance problems. By helping members get a refund for their auto loan ancillary protection products, Credit Unions can serve their member's best interests and stay compliant.
There’s a substantial number of your members that have paid off their loans early, experienced total loss or repossession, canceled their aftermarket protection products (think GAP or VSC), and are unaware of the refund owed to them by the dealer.
Your credit union can show your members you’re going the extra mile by canceling their ancillary auto loan products with the dealer and provider. Plus, with more regulators expecting the credit union to proactively cancel and refund members for unearned premiums, you can stay compliant.