Notice To Members with Collateralized Loans
     Full coverage Insurance is required on all collateralized loans.  If you have been notified, by letter, that the credit union has not received the appropriate insurance information on you loan, DO NOT DISREGARD.  Upon the 61st day of the loan, when the appropriate insurance information is not received, Collateral Protection Insurance (CPI) is FORCED PLACED .  CPI covers the credit union only for the dollar amount of the loan.  This is not a liability insurance.   The state of  WV and OH, as well as other states, requires motorists to carry liability coverage.  (CPI will not cover injury to you or anyone else and will not cover damages done to your property or anyone else's property.)  Once this CPI is force placed on the loan, payments are adjusted to reflect the added amount.  THIS INSURANCE IS NOT CHEAP!  Payments will increase!  CPI can cause the term of your loan to extend from what was originally stated on the security agreement.   Titles will not be released until the loan is paid in full. 
     If you have been notified by letter, that insurance information is needed, please call your insurance agent to get the appropriate information and have it faxed to (304)424-0718 or (304) 865-8620, Attention Loan Department.