Credit Union Income Solutions provides advisory and administrative services to your Credit Union in order to maximize the full potential of the Member Credit Protection (MCP) program. Credit Union Income Solutions works with management to implement a product that is cost effective for the member while profitable for the Credit Union. Since Member Credit Protection is a program in which the Credit Union keeps the bulk of the fees and pays the claims, Credit Union Income Solutions’ costs are minimal. This allows the Credit Union the luxury of greatly increasing fee income without the administrative burden of typical self-directed debt cancellation programs.

Credit Union Income Solutions, LLC (CUIS) is a wholly-owned Credit Union Service Organization (CUSO) of United Texas Credit Union, located in San Antonio, Texas. CUIS works with management and staff to implement loan products that are cost effective for the member while profitable for the credit union. Member Credit Protection is the primary product installed by CUIS, but other loan products, that complement MCP, are available.

Member Credit Protection is a single premium waiver product that allows the member to pay a one-time fee, and then have the comfort of knowing that their assets are protected in a time of loss. MCP forgives the member’s outstanding indebtedness to the Credit Union if one of two events occurs: the member totals his/her auto and a shortfall remains or the member unexpectedly dies during the life of the loan. The cost for MCP is added to the original loan balance and amortized over the life of the loan. The Credit Union receives the majority of the fees from waiver sales, as opposed to other third-party vendor products that retain the bulk of the fees generated from similar programs.

Member Credit Protection (MCP) is a debt/cancellation suspension program (DCS) as defined by the National Credit Union Administration (NCUA). MCP essentially blends the benefits of Guaranteed Asset protection (GAP) and Credit Life into a single product that provides substantially more protection for Credit Union members at a cost typically lower than if the two products were purchased separately.

Contact us for more information or a detailed proposal. Let us help you put the power of higher revenues in your hands!

 

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