When you have a loan with Redwood Credit Union (RCU), providing proof of insurance (on the auto or home) is a requirement. If proof of insurance isn’t offered to your RCU lending agent at the time your loan is funded, collateral protection insurance (CPI) is automatically added to your loan at your expense. This covers the asset but not liability, and so does not meet California’s legal requirements as proof of auto insurance.

How to Avoid Unnecessary CPI Charges on Your Loan

While your agreement with RCU requires continuous insurance against physical damage losses for the term of the loan, you can avoid CPI charges by simply providing a copy of your insurance coverage for your home, auto, motorcycle, RV, trailer or boat. And because we care about your financial health, we hope you proactively do so to save yourself money!

Provide us with your policy declarations

Select your loan type below and use the Upload Documents button to add your loan documents.

If you’d like to confirm receipt of your uploaded documents, please call 1 (866) 877-3373 for vehicle loans and second mortgages/home equity loans or 1 (866) 669-8615 for first mortgages.

If Redwood Credit Union doesn’t receive acceptable proof of the required insurance, it may become necessary to protect our interest by purchasing a collateral protection Insurance (CPI) certificate at your expense. Please be aware that CPI is not a substitute for standard insurance and generally carries higher premiums than insurance you can purchase on your own. CPI is designed to protect only our interest in your collateral for claims filed by us as the creditor for physical damage or loss caused by covered collision and comprehensive casualties, and therefore may not pay for claims you make. Even more importantly, it does not provide any liability coverage for claims made against you and does not satisfy any mandatory liability insurance or financial responsibility laws of this or any other state. For these reasons, we encourage you to provide your own insurance.