Collateral Protection Insurance


Collateral Protection Insurance
In order for us to provide the best possible service, we require proof of insurance on collateral until a loan is paid off. If you fail to provide OE Federal with proof of insurance, we have the right to purchase Collateral Protection Insurance (CPI) on your collateral at your expense.
- This insurance will not give you liability coverage and will not meet the requirements of a state’s financial responsibility law.
- The CPI insurance will automatically renew each month until you provide proof of insurance or pay off the loan.
- The premium and applicable interest on the CPI insurance will be added directly to your loan payment.
- Need insurance? We have partnered with TruStage Auto and Home Insurance to offer you great benefits and discounts. If you are interested in a quote, please call 888.531.1256.
Frequently Asked Questions
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How do I provide proof of insurance to OE Federal Credit Union?
You can provide proof of insurance to OE Federal in one of four ways:
- Email: [email protected] Please note: This is an automated email account and emails with file attachments in PDF, PNG, TIF, or JPG formats can be accepted.
- Fax to: 1.877.889.8771
- Upload to: myloaninsurance.com/oefederalcreditunion
- Mail to: OE Federal Credit Union Insurance Tracking Center P.O. Box 924686 Fort Worth, TX 76124
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What does my insurance have to include?
Your insurance must include the following:
- Continuous insurance coverage with no lapses
- OE Federal Credit Union named as lien holder or loss payee
- Comprehensive & collision coverage with deductibles not greater than $1,000
Please note: An insurance ID card is not adequate evidence of the required physical damage insurance.
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Who can I contact if I have questions?
If you have questions about Collateral Protection Insurance (CPI), please contact 866.280.0693.
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Do you have any suggestions for insurance?
OE Federal Credit Union partners with TruStage Auto and Home Insurance. If you are interested in a quote, please call 888.531.1256.