Consumer Loan Default Insurance (for Credit Unions)
- Concept: A consumer loan default insurance product that is “layered” into a credit union’s offerings and integrated with their Loan Origination Systems (LOS).
- Purpose: To protect members from loan default due to events like involuntary unemployment or disability, while simultaneously generating non-interest income (NII) and mitigating portfolio risk for the credit union.
- Target Audience: Credit unions seeking a turnkey solution to protect member loans, generate revenue, and manage risk.
