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By Corrin Maier, Vice President, Lending Payment Protection, TruStage<\/p>\n
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A key challenge for credit unions is helping members manage financial concerns. The recent TruStage™ consumer lending preferences study shows 85% of consumers express concern that life events could impact their ability to repay loans, and 73% of consumers report experiencing at least one financial hardship.\u00b9<\/p>\n
Offering payment protection within digital loan applications in a simple and effective manner to support members\u2019 needs has proven to be another obstacle. Many credit unions are skeptical that efforts to integrate payment protection in loan workflows could be costly, be time consuming and disrupt their greater digital transformation.<\/p>\n
In today\u2019s lending landscape, even small moments in the member journey can make or break protection uptake. That\u2019s why more credit unions are rethinking how \u2014 and when \u2014 they introduce payment protection.<\/p>\n
TruStage Lending continues to overcome legacy pain points like limited integration capabilities and relying on face-to-face conversations to promote offers. Our new digital purchase journey solution helps deliver a consistent multichannel experience for members that is designed to fit seamlessly into credit unions\u2019 workflows through an application programming interface (API) without complex integrations or constant updates.<\/p>\n During the purchase journey, members are empowered to view eligible loan payment protection offers, compare benefits and express interest \u2014 all within their digital loan application. Inputs are also automatically integrated into the loan origination system (LOS) and loan documents, eliminating the need to rekey information.<\/p>\n <\/p>\n Turning member feedback into a meaningful purchase journey<\/strong><\/p>\n Nearly 70% of borrowers say they\u2019re more open to credit union payment protection products than in previous years, and 96% prefer to learn about them before finalizing a loan.\u00b9 This further highlights the valuable opportunity to introduce integrated payment protection in a way that feels timely, relevant and member-centric.<\/p>\n Offering payment protection during the digital loan application process creates a straightforward experience for members to learn more about different products and express interest in offers at a time that works for them. With a design focused on accommodation, credit unions can also serve the diverse needs of all their members with the ability to offer debt protection, credit insurance, GAP and mechanical repair coverage (MRC) through the purchase journey.<\/p>\n \u00a0<\/strong><\/p>\n Small shifts, big impact on protection adoption<\/strong><\/p>\n By adopting innovative solutions and targeting key challenges, credit unions could enhance their lending operations and deliver value to members now. Today, more than 650 credit unions are integrating payment protection into over 3 million loan applications with TruStage\u2019s solution, helping drive stronger engagement and better member outcomes.\u00b3<\/p>\n Educational content and timely offer placement have led to a 13% increase in payment protection elections and a 25% selection rate among online members \u2014 reinforcing the power of well-informed choices.\u2074<\/p>\n By including payment protection in the digital loan application, credit unions could evolve their lending operations and support their members\u2019 ever-changing needs. Visit our\u00a0integrated payment protection page<\/strong><\/a>\u00a0to explore more benefits of our purchase journey.<\/p>\n <\/p>\n \u00b9TruStage. 2025 Consumer Lending Preferences Study. 2025, March. TruStage™ is the marketing name for TruStage Financial Group, Inc. its subsidiaries and affiliates.\u00a0Securities distributed by CUNA Brokerage Services, Inc., member\u00a0FINRA<\/a>\/\u00a0SIPC<\/a>, a registered broker\/dealer, 2000 Heritage Way, Waverly, IA, 50677.\u00a0Investment and insurance products are not federally insured, may involve investment risk, may lose value and are not obligations of or guaranteed by any depository or lending institution.<\/strong>\u00a0All guarantees are based on the claims paying ability of the underwriting company.\u00a0Insurance products are issued by CMFG Life Insurance Company, MEMBERS Life Insurance Company, CUMIS Insurance Society Inc., CUMIS Specialty Insurance Company Inc., American Memorial Life Insurance Company, and Union Security Insurance Company.<\/p>\n Please view these important product-specific disclosures:<\/p>\n Consumer Insurance<\/a> | Annuities<\/a> | Preplanning<\/a> | Lending<\/a> | Retirement<\/a> | Business Protection<\/a><\/p>\n Corporate Headquarters 5910 Mineral Point Road, Madison WI 53705 [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n ","protected":false},"excerpt":{"rendered":" [et_pb_section fb_built=”1″ _builder_version=”4.9.4″ _module_preset=”default” custom_padding=”1px|||||”][et_pb_row _builder_version=”4.9.4″ _module_preset=”default” custom_padding=”0px|||||”][et_pb_column type=”4_4″ _builder_version=”4.9.4″ _module_preset=”default”][et_pb_text _builder_version=”4.9.4″ _module_preset=”default” hover_enabled=”0″ sticky_enabled=”0″] By Corrin Maier, Vice President, Lending Payment Protection, TruStage A key challenge for credit unions is helping members manage financial concerns. The recent TruStage™ consumer lending preferences study shows 85% of consumers express concern that life events could impact their […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts\/5837"}],"collection":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5837"}],"version-history":[{"count":0,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts\/5837\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
A scalable solution, designed to be simple to adopt<\/strong><\/p>\n\n
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\u00b2TruStage. Integrated Experience Credit Union Survey. 2023, January \u2013 September.
\u00b3TruStage. Internal data. 2025.
\u2074TruStage. Lending Media Program May Campaign Results. 2023, May \u2013 June.<\/p>\n
\u00a9 TruStage. All Rights Reserved.
LPS-8175091.1-0725-0827<\/p>\n