In a bid to better support its members during challenging times, Community First Credit Union (CFCU) of Santa Rosa, California, has announced a partnership with TruStage, a leading insurance, investment, and technology provider. This collaboration will integrate TruStage’s Payment Guard embedded insurance strategy into the credit union’s indirect auto loan offerings. The initiative aims to protect members against unexpected life events, such as job loss or disability.
With over 60 years of experience and recently recognized as “Best Credit Union” by NorthBay biz, CFCU currently serves more than 60,000 members across five counties in Northern California: Sonoma, Napa, Lake, Mendocino, and Marin. Given the significant portion of indirect auto loans within its portfolio, CFCU is implementing TruStage’s Payment Guard to provide an extra layer of financial protection for its members.
“Community First remains steadfast in its commitment to the community and the members we serve by providing products and services that assist them during their most critical moments,” said Cary Shumway, Chief Lending Officer of Community First Credit Union. “TruStage Payment Guard enables us to offer our members the essential coverage they need when life takes an unexpected turn.”
CFCU anticipates that this partnership will deliver substantial economic benefits, including lower auto loan delinquencies and a positive influence on its allowance for credit loss. Furthermore, TruStage’s contributions to the financial well-being of members are expected to enhance CFCU’s membership offerings, fostering greater member engagement and broadening the scope of services while strengthening relationships.
“CFCU is committed to supporting its members in their times of need, and we are thrilled to partner with them to further this important mission,” stated Danielle Sesko, Director of Product Management at TruStage. “Our Payment Guard solution not only provides security during life’s unpredictable challenges but also helps bolster the credit union’s financial stability. Together, we are advancing the financial health of the members they serve now and into the future.”
