FAQs

 

Q:  When and why do we need a VIN inspection on collateral?

    A: VIN inspections are required on all:

• Out-of-State Dealership Sales

• Private Party Sales

• Title Loans

One of the reasons we require these on Private party and Title Loans is to make sure the collateral is in working and sound condition.

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Q: When is a 502 needed for the loan?

    A: If there is a change to the name on the title at all, then we need a 502. 

• Private Party - ALWAYS! Yes, we need a 502.

• Title Loan, Incoming Refi, Inhouse Refi:

  • The current names on the title will match the names on the loan - no 502​​

  • The current names on the title will NOT match the names on the loan - YES, we need a 502

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Q: We received the physical title, what do we do?

    A: Send it to Matt at the Oak St Branch.

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Q: When should we log the collateral on FDI?

    A: As soon as possible after the loan is booked and the member has signed, log the collateral on FDI.

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Q: What is our lienholder address?

    A: It can be either the Oak Street address or State National's address:  

                                                          Connections CU

Connections CU                OR            Attn: Insurance Department

PO Box 4909                                     PO Box 924494

Pocatello, ID 83205                           Fort Worth, TX 76124

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