Posts Categorized: Trust Tips

What is a Loan Closet?

Article by: Sarah Nash Training Director, Insurance Trust  I love the saying, “you don’t know what you don’t know.”  It has proven to be true in so many areas of my life. Recently my Dad fell and broke his hip socket.  He had to have extensive surgery with plates and pins to repair his hip… Read more »

What is My Emergency Fund?

Article by: Elizabeth Ingram  Vice President of People Strategy, Insurance Trust  For me, this year’s pandemic reminded me of the importance of an emergency fund.  I know that there are scads of suggestions of how much to save and how because I’ve read them.  I also know that storing 3 to 6 or even 12… Read more »

What can a credit union do for you?

Article by: Sarah Nash Account Relationship Manager – Member Lending Division   There’s a great saying: “You don’t know what you don’t know.”  This rings true in so many areas of life.  Unless you have experienced something yourself or have learned from a family member or friend; you just are not aware of some of the… Read more »

Post-Pandemic Tax and Safety Reminders

Author: Elizabeth Ingram Vice President of People Strategy Insurance Trust  The past few months have been a wild ride, and it isn’t over yet.  In the midst of all the stress of COVID-19 and Black Lives Matter, remember that thinking ahead can still save you a little stress later on.  I won’t reiterate all the… Read more »

Best Practices: Dealing with an Auto Loan After a Total Loss

When one of your members experiences a total loss on their vehicle, it’s important to have a clear process in place to help reduce the administrative impact to the member as well as your staff and accounting department.  The following are Insurance Trust’s best practices for dealing with an auto loan after a total loss. … Read more »

Does Your Credit Union Need More Vehicle Loans?

OK, who doesn’t?  With relentless competition from the auto dealers and other competitors, it’s harder than ever to gain vehicle loans.  But here’s a tip that could help you and your front line team build a member relationship that will endear you to them while at the same time, help capture more loans.   Work… Read more »

The Importance of the Used Vehicle Buyer’s Guide for Credit Unions

When a member is financing a used vehicle with your credit union, it is critical to ask them to see the Used Vehicle Buyer’s Guide during the loan application process. The Used Vehicle Buyer’s Guide contains many important factors that can affect the vehicle’s value.  Maine law requires dealerships to display this document in the… Read more »

How to Fight Identity Theft in the Workplace

Employers collect and store vast amounts of personally identifiable information from job candidates and employees: Social Security numbers, birth dates, driver’s licenses, protected health information, financial and investment account information, emails and passwords, and more.

Trust Tips – GAP to the Rescue

A recent real-life GAP claim from one of our credit union clients. Make: Ford Model: F-150 Year: 2006 Mileage: Wicked High (a Maine pick-up truck!) Financed Amount: $18,300 NADA value: $16,075 The truck was totaled just 2 months after it was financed.   The Bad News  The members auto insurance company assessed the value of the… Read more »