Required Insurance Policy

A vehicle financed with MEMBERS1st must be covered by insurance and documentation of the following is required:

Collision Coverage ($1,000 maximum deductible)
Comprehensive Coverage ($1,000 maximum deductible)
Coverage effective date on or before date of finance contract
Insured’s Name and Address
Vehicle Description and VIN
No Excluded Drivers on Policy
MEMBERS1st Community Credit Union listed as Loss Payee
Policy Number and Current Policy Period

Insurance Agent:

Please mail or fax proof of an acceptable insurance policy to:
MEMBERS1st Community Credit Union
Attn: Insurance Department
PO Box 777
Marshalltown, IA 50158
Fax: (641) 752-1514
Email: loans@members1st.com

Failing to provide proof of insurance is a default on the loan with MEMBERS1st.

Borrower(s) must request that their insurance agent forward proof of this required coverage to MEMBERS1st Community Credit Union within 30 days of financing contract date. If evidence of the required insurance is not provided, MEMBERS1st may secure insurance according to the terms of the loan agreement. The premium will be added to the loan’s principal balance, and the borrower(s) will pay the finance charge on the premium, increasing the payment. Insurance secured by MEMBERS1st will not provide bodily injury or property damage liability insurance coverage and will not comply with any insurance financial responsibility laws.