Why did I have insurance added to my loan? How do I remove it?

The Credit Union requires that all collateral used to secure a loan be properly insured at all times during the life of the loan. Any lapse in coverage, or insufficient coverage, will cause the Credit Union to purchase insurance on your behalf to protect the collateral. We will add the cost of that coverage to the outstanding loan balance, generally resulting in higher monthly payments. If you feel that insurance has been added in error please contact our insurance monitoring department at 800.422.4223 extension 1010. Please keep in mind that any insurance added to your loan is designed to protect ONLY the collateral and does not include personal liability coverage.