Credit unions might consider posting the following information on their websites and in their branch locations to help prepare members for restrictions involving insurance checks.
Notice to Members Regarding Insurance Proceeds
In cases where ABC Credit Union has a secured interest in the property, insurance checks may be made payable jointly to you and to ABC Credit Union. We may not make the proceeds immediately available. You should contact us at xxx-xxx-xxxx for instructions on how to endorse the check, and to find out about any holds that may be placed on the proceeds.