How Credit Unions First Is Fixing What's Broken in Insurance Products

In this special episode of Members First Mindset, Joshua Barclay (host of Grow Your Credit Union) takes over hosting duties to dive deep into Credit Unions First — the CUSO behind the podcast. Joshua sits down with Dan Daggett, Melanie Munsey, and Emily Jorgensen to illuminate what Credit Unions First does, their mission, and the problems they're solving for credit unions.

Key Topics Discussed:

• The history of credit union insurance alternatives and how Credit Unions First is recreating that model

• Why 80-90% of credit unions use force-placed insurance without knowing blanket lender single interest products exist

• The hidden costs of force-placed policies: adding $6,000+ to struggling members' loans and driving 75-80% of repossessions

• AMOCO Federal Credit Union's results: receiving 78 cents back on every premium dollar vs. 51-52 cents with force-placed

• How the Navigator platform gives credit unions real-time visibility into their insurance programs

• The roadmap: collateral protection insurance, vehicle service contracts, accidental death & dismemberment, and GAP products

• Why Emily Jorgensen was sent to the Credit Union Museum as part of her onboarding

• Building an advisory board and surrounding yourself with people smarter than you

• The "easy button" trap and why credit unions need to do the hard work for members

On This Episode:

• Dan Daggett - Co-Founder, Credit Unions First

• Melanie Munsey - CEO & Co-Founder, Credit Unions First

• Emily Jorgensen - Director of Operations and Training, Credit Unions First

• Joshua Barclay - Host, Grow Your Credit Union

For more information about Credit Unions First, visit creditunionsfirst.org. Check out their interactive CPI calculator and vehicle service contract calculator to see how much money your credit union could be keeping.