If you have a collateralize loan with Redwood Credit Union
It is important that we receive acceptable proof of the required insurance or it may become necessary to protect our interest by purchasing a Collateral Protection Insurance (CPI) certificate at your expense. When purchased, this insurance will be added to the balance of your loan.
Facts about CPI Coverage:
- Be aware that CPI is not a substitute for standard insurance.
- CPI generally carries higher premiums than insurance you can purchase on your own.
- CPI protects only our interest in your collateral for claims filed by us.
- Vehicles must be insured even if in Planned Non-Operational (PNO) status or in storage.
- For these reasons, you must provide your own insurance.
Primary insurance requirements:
- Continuous insurance coverage with no lapses
- Lender Name named as lien holder or loss payee
First Mortgages
Redwood Credit Union
Its Successors And/Or Assigns
PO Box 961292
Fort Worth, TX 76161-0292
Loan#: {always include RCU Loan Number here}
Vehicle and Second Mortgages
Redwood Credit Union
Its Successors And/Or Assigns
PO Box 390447
Minneapolis, MN 55439-0447
- Comprehensive and collision coverage (or physical damage) with deductibles not greater than $2,500
- No insurance ID cards please ONLY INSURANCE DECLARATION PAGES
You can provide your insurance by mail, fax or Internet.
Redwood Credit Union
van Wagenen
P. O. Box 390447
Minneapolis, MN 55439-0447
Fax: "Flood" 833-671-2122 | "Auto" 833-671-2121*
Phone: "Flood" 888-491-5114 | "Auto" 888-739-5882
https://rcuinsuranceservices.com/upload