Spring Performance Management and Lending Workshop – April 6-7, 2020

2020 Performance Management and Lending Workshop

with Chris Maynard and Valerie Lentz
April 6-7, 2020
Credit Union Service Center | Westbrook, ME

Guide Employees and Members Along the Path to Success

Insurance Trust and CUAlliance are pleased to host a Performance Management and Lending Workshop to be held at Maine Credit Union Service Center in Westbrook, ME on April 6-7, 2020. This dynamic workshop designed for CEOs, executive management, lending managers and loan staff and will be split into two focused 1-day sessions presented by credit union industry speakers, Chris Maynard and Valerie Lentz.


What’s New for 2020? Here’s a look at new topics and focuses:

  • Building an incentive program for member-facing staff that pays for itself
  • The role your front-line managers play in driving sales results
  • Case Studies – Examples of how credit unions are winning and why
  • Credit Score Education – How to use the score codes for your sales playbook


Monday, April 6th
Performance Management Workshop

  • How to implement an incentive program that moves the needle for your member-facing
    (frontline) employees
  • How to use metrics and effective benchmarking to measure results and promote
    accountability throughout the staff
  • How to use PPC’s Sales Manager model to drive results throughout the organization
  • How to grow ancillary product sales and increase non-interest income


Tuesday, April 7th
Taking Lending to the Next Level Workshop

  • Embracing our role as credit score educators
  • Key strategies to improve your member’s credit scores and the
    natural sales opportunities that come from improving them
  • Referrals and sales through advocacy. We all want to make a difference in
    your member’s lives
  • The 4 C’s of Lending. It’s so much more than Credit Score and DTI
  • How to take a conversational loan application using PPC’s 4 Step Loan Detector

About the Speakers

Chris Maynard – Chief Strategist, Performance Pros Consulting

Chris Maynard of Insurance TrustChris is a seasoned banking executive with proven results. He is an elite team builder with experience leading teams ranging from 20 to 130 staff members. Chris consults with clients from Maine to Florida and from the East Coast to the West Coast helping them become experts in risk-based lending. He will teach your staff how to connect with your members and to become an advocate for them through needs-based selling. His experience as a COO with multiple credit unions lends a real-world perspective as he works with clients, helping them become industry-leading managers and inspiring leaders. Chris holds a Bachelor of Science in Business Administration from West Virginia University.


Valerie Lentz – Vice President of Operations, Performance Pros Consulting

Valerie is a seasoned risk-based lender and is an expert at finding solutions for borrowers to make a difference in their lives. Valerie is an expert at reading credit reports and showing borrowers how to improve their credit score to pay less interest. She is passionate about working with lenders to develop their underwriting skills so they manage risk effectively, close more loans and communicate in a proactive manner with the borrower. She teaches lenders how to get the rest of the story and shows them how credit risk is more than just a score. Valerie holds a Bachelor of Arts in Sociology from Concordia University Chicago.




Insurance Trust 57th Annual Meeting & Silent Auction for Special Olympics Maine

Insurance Trust is pleased to announce its 57th annual meeting that will take place at 2:00 pm on Friday, April 17, 2020, at the Italian Heritage Center in Portland, ME.  Join us as we celebrate more than half a century of service to the Maine credit union community.

Special Morning Workshop

In addition to our regular annual meeting events and Silent Auction for Special Olympics Maine, we invite you to join us for a special morning “Succession Planning Workshop” presented by renowned speaker Phil Harriman to be held at the Maine Credit Union Service Center in Westbrook, ME from 9 AM – 12 PM.  For over thirty years, Phil Harriman has worked with family-held and nonprofit businesses in the areas of business continuation arrangements, negotiation of compensation packages, and retirement and estate planning. He has spoken to international audiences worldwide and has also appeared on CNN Financial and Bloomberg Radio Network and is a frequent guest on the WCSH 6 “Political Brew” segment. The session will be complimentary, and we invite you to bring a member of your Board of Trustees as a Guest. 


18th Annual Golf Tournament for Special Olympics Maine

Dear valued clients and partners of Insurance Trust,

We invite you to join Insurance Trust for the 18th Annual Golf Tournament to support Special Olympics Maine on Thursday, July 16, 2020, at Falmouth Country Club in Falmouth, ME.

Registration is now open! Be sure to mark your calendars, register your golf teams early (as space is limited) and sign up to become a Platinum, Gold, Silver or Bronze tournament sponsor.

Please come out, enjoy a fun day of golf and help support Special Olympics Maine Athletes and their families! (more…)

Insurance Trust is Hiring – Member/Lending Account Executive

Insurance Trust has an immediate opening for a Member/Lending Account Executive.

For over 50 years, Insurance Trust has been a premier provider of insurance products for credit unions throughout Maine and New England. We are a family-oriented team of 15 insurance professionals dedicated to providing competitive insurance coverage options for credit unions, their employees and their members.

This position is based at the Insurance Trust office in Westbrook and will require extensive travel (approximately 3 days/week with multiple overnights each month) in Maine as well as in greater New England.  Including travel time, an average week may be 45-60 hours. (more…)


Tough Conversations: Advice for Preparing for the Death of a Parent

Author: Sarah Nash
Property & Casualty Account Manager
Insurance Trust | Equinox 

I know that this is a very tough subject to discuss, but I wanted to share the important things I learned from my personal experience of losing a parent.  The following are many important questions to ask along with some informative discoveries I made regarding all of the medical, insurance, financial and personal matters that arise. One piece of advice I offer to you is to do your best to prepare for the death of a parent. It’s going to happen. We can’t avoid it. We all tend to think that we have plenty of time. Sometimes you don’t. Sometimes a sudden illness can cause death to happen quickly, and I’d be willing to bet that at least half of us are unprepared for this event.  Talk to them now while you’re both able. Not one part of the conversation is fun or easy. No one likes to think about their own death and departure. I think the older you get the harder it is for some to discuss their ultimate wants and wishes at the end of life. (more…)


Updated HSA Contribution Limits for 2020

Ship steer in control room Japanese ferry

Each year the IRS releases updated health savings account (HSA) and high-deductible health plan (HDHP) limits for the coming year.  2020’s limits are listed below and further information can be found on the IRS website HERE or by contacting Heather Baird at hbaird@insurancetrust.us.

2020 HSA Contribution Limits

  • Individual: $3,550 ($50 increase from 2019)
  • Family: $7,100 ($100 increase from 2019)
  • Over 55 catch-up $1000 (remains the same)

2020 HDHP minimum annual deductibles

  • Individual: $1,400 ($50 increase from 2019)
  • Family: $2,800 ($100 increase from 2019)

2020 HDHP maximum out-of-pocket amounts

  • Individual: $6,900 ($150 increase from 2019)
  • Family: $13,800 ($300 increase from 2019)

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Should GAP Be Sold on RVs and Travel Trailers?

Article by our partners at Frost Financial Services | www.frostinsure.com

Do you ever finance RVs or travel trailers? If so, make sure to stress the importance of GAP protection on these loans. While you may not see many accidents involving RVs or travel trailers, many of them experience total losses each year. Accidents are certainly not as frequent, but plenty are so severely damaged due to flood, vandalism, fallen trees, and fire that they are unrepairable and deemed total losses by primary insurers.

Adding to the GAP risk on RVs and travel trailers is the challenge of accurately valuing the collateral at the time of financing. You can utilize a guide book or even refer to a dealer invoice, but validating model and options can oftentimes lead to many more challenges and errors in valuing RVs and travel trailers than we see in the much more standardized world of autos. These errors can create significant overvaluation of collateral and unexpected exposure to loss. And, if you think automobiles and trucks are depreciating rapidly these days, these are luxury items and can see even more wild swings in values from year to year as market conditions change.

Lastly, the loans for these collateral types tend to be longer terms. This means that the loan balances will amortize down more slowly and only add to the potential of a large GAP loss even when the loan was financed well under 100% of the value at loan origination.

A recent claim highlights how a number of the above factors can come together and result in a significant GAP claim.

In May 2015 the lender financed $92,485 on a 42′ Jayco RV that had an assumed value of $83,710. Three years later a fire caused a total loss of the RV and the settlement provided by the primary insurer was $53,445. This left an outstanding loan balance of $30,595. Fortunately, this loan had GAP protection and the $30,595 loan balance was paid in full.


Introducing our New Employee Benefits Specialist

Insurance Trust is pleased to introduce Pam Huntington as our new Employee Benefits Specialist.

Pam comes to our team with more than fifteen years of experience in the health insurance and voluntary benefits field.  She has previously worked as an Account Manager at both the health insurance carrier and broker levels.  Pam also worked in multiple roles at a local Maine credit union for five years.  Pam was born and raised in Portland where she attended Deering High School.  She then attended Southern Maine Community College where she earned an Associate Degree in Automated Office Management.  Pam enjoys spending time with her husband, children and black lab, Bo, as well as motorcycle rides and time at the lake.

“I am excited to be part of the credit union movement and look forward to the opportunity to assist our credit union and small business partners with all of their employee benefits needs.  I like that I can use the skills I have learned from my previous experiences to help educate employees on how to best understand what they have for benefits at a level that is comfortable for them.  I am excited for this journey.”  

As Employee Benefits Specialist, Pam’s focus will be to communicate with our insurance carriers, credit unions and small business clients to provide education and service for all group employee benefits programs.  Pam will conduct renewal meetings for our clients and continually work to present new and alternative options for our current and potential clients.

Pam can be reached at 207-773-0925 ext. 314 or phuntington@insurancetrust.us

17th Annual Golf Tournament for Special Olympics Maine

Dear valued clients and partners of Insurance Trust,

We invite you to join Insurance Trust for the 17th Annual Golf Tournament to support Special Olympics Maine on Thursday, July 18, 2019, at Falmouth Country Club in Falmouth, ME.

Registration is now open! Be sure to mark your calendars, register your golf teams early (as space is limited) and sign up to become a Platinum, Gold, Silver or Bronze tournament sponsor.

Please come out, enjoy a fun day of golf and help support Special Olympics Maine Athletes and their families!

Falmouth Country Club
Golf Course 1 Congressional Drive
Falmouth, ME 04105

Registration from 7:45 AM to 8:45 AM
Continental Breakfast included
Sponsored by: Equinox Insurance

 Shot Gun Start at 9:00 AM
(Scramble format)

$140.00 per Golfer
(This fee includes: greens fees, golf cart, continental breakfast, bag lunch, post-golf reception and four mulligans per team, maximum of 144 golfers.)

To register, contact Barbara Christy at bchristy@insurancetrust.us 


The Maine Bureau of Insurance Approves Health Insurance Association for Maine’s Credit Unions

2 Ledgeview Drive
Westbrook, ME 04092

For Immediate Release
April 19, 2019


The Maine Bureau of Insurance Approves Health Insurance Association for Maine’s Credit Unions

(Westbrook) – On March 29, 2019 the Maine Bureau of Insurance approved a new Multple Employer Welfare Arrangement (MEWA), an association formed to provide a collective non-profit health insurance program, for Maine’s 54 Credit Unions.  The MEWA has been named “Maine Credit Union League Insurance Trust” and will be governed by a board of 7 trustees to represent its more than 500 employees.  The non-profit health insurance plan will be administered by Insurance Trust in Westbrook, ME, an insurance agency founded in 1963 by Maine Credit Unions. The association is sponsored by the Maine Credit Union League, Maine’s credit union trade organization.


“This employee benefits association for Maine’s Credit Unions is something that’s been needed for a long time. For many years, I’ve known this was a possibility, and Insurance Trust is truly honored to have led the charge in the creation of the Maine Credit Union League Insurance Trust.  This would not have been possible without the amazing cooperative spirit of the Maine credit union movement; we are truly better together when it comes to health insurance.  I believe it’s vitally important that we take care of our credit union employees and their families, so that the credit unions’ employees can best take care of their members and their communities.  We are proud knowing this program will continue to help credit unions and their employees for years to come.” – Kim Daigle President & CEO, Insurance Trust


About Insurance Trust

Insurance Trust was founded in 1963 by Maine Credit Unions to provide insurance solutions for their members. For over 50 years, Insurance Trust has been the premier provider of insurance and loan protection products throughout the Northern New England credit union community. Visit www.insurancetrust.us for more information.


About Maine Credit Union League

The Maine Credit Union League is a nonprofit, professional trade association that exists to serve Maine’s credit unions. Founded in 1938, the League is committed to helping credit unions succeed, and improve the financial lives of their members.


For more information please contact:

Seth McClellan
Marketing Director
2 Ledgeview Drive, Westbrook, ME 04092
Office: 207-887-8255