Servion | Cobalt Credit Union

We’re Upgrading Your Mortgage Experience

Cobalt Credit Union has switched to a new mortgage servicing partnership with Servion, Inc. —effective June 2, 2025.

As your trusted local mortgage provider, we’re always looking for ways to better serve you. That's why we've partnered with Servion, Inc. - a credit-union owned organization that shares our member-first philosophy and commitment to exceptional service. By transitioning our mortgage servicing to Servion, Inc., we're ensuring you continue to receive the integrity and care you expect from us.

What This Means for You

Your mortgage will still be held with Cobalt Credit Union, and your loan terms will not change. What will change is how you make payments and manage your loan—and we think you’ll love the improvements.

With Servion, you’ll enjoy:

📧 Secure electronic statements via email
💻 Online loan access, including documents and history
🔁 Convenient ACH payment setup directly online
☎️ Extended member service hours and support, available Monday through Friday from 7am - 7pm

Payments

Beginning June 2, payments must be mailed to:

Servion, Inc
Attn: Payment Processing
500 Main Street
New Brighton, MN 55112

Beginning June 2, you can set up automatic payments online at https://consumer.sagentapps.com/Cobalt_CU/.

FAQ

Please see below for frequently asked questions or contact our member service or video banking team through our live chat feature, Coby!

June 1 Payments: No payments can be accepted on June 1 due to the system conversion. Members will not be able to pay Cobalt or Servion on this day.

What is a mortgage servicing transfer?: A mortgage servicing transfer occurs when the company managing your mortgage payments, escrow accounts, and member service changes. Cobalt has partnered with Servion, Inc as our new mortgage servicing partner. This means beginning June 2, you will send payments to Servion, and they will be responsible for managing your loan.

How will I be notified about the change?: You will receive written communication from both Cobalt and Servion, Inc approximately 15 days prior to June 2, 2025. The notice from Servion will include important contact information and instructions on where to send your payments.

Will the terms of my mortgage change?: No changes will be made to your mortgage terms. Your interest rate, loan balance, and monthly payments will all remain the same. The only change is the company managing your loan.

Is my payment due date staying the same?: Yes, your payment due date will stay the same. Be sure to continue making your payments on time to avoid any issues.

Where should I mail my payments after the transfer?: Beginning June 2, 2025, please send your payments to:

Servion, Inc
Attn: Payment Processing
500 Main Street
New Brighton, MN 55112

What if I already have automatic payments set up?: After the transfer is finalized on June 2, you’ll need to re-establish your automatic payment with Servion. Automatic payments can be setup online at https://consumer.sagentapps.com/Cobalt_CU/.

Should I start sending payments to the new servicer immediately?: No, continue making your payments to Cobalt until May 31, 2025. If you send payments to Servion before the transfer, they might not be processed correctly. Cobalt will no longer accept payments after May 31.

What if I mistakenly send my payment to Cobalt after the switch?

If a payment is sent to Cobalt after May 31, we'll forward it to Servion. However, it's important that you begin mailing payments to Servion as of June 2 to avoid delays.

Beginning June 2, 2025, please send your payments to:

Servion, Inc
Attn: Payment Processing
500 Main Street
New Brighton, MN 55112

Or beginning June 2, you can set up automatic payments online at:
https://consumer.sagentapps.com/cobalt_cu/

Can automatic payments be set up before June 2?: You must wait until June 2 to set up automatic payments with Servion. You can create a new account online before this date; however, you cannot see your account details and set up online payments until the conversion on June 2.

Will I receive a bill for my June mortgage payment?: No, you will not receive a mortgage bill for June due to the transition of servicing to Servion. Beginning in July, all future mortgage bills will come directly from Servion.

Please mail your June payment to:

Servion, Inc
Attn: Payment Processing
500 Main Street
New Brighton, MN 55112

Will I receive new loan statements of documents?: You'll receive new mortgage statements from Servion, but your existing loan agreement will remain the same. Your payment history and account records will be transferred without interruption.

Do I need to do anything now?

No immediate action is needed. However, after June 2, you must update your payment details with Servion. Automatic payments can be set up online or by mailing your payments to the following address:

Servion, Inc
Attn: Payment Processing
500 Main Street
New Brighton, MN 55112

Will there be changes to my escrow account?: If you have an escrow account, Servion will take over managing it. This includes paying property taxes and homeowners' insurance from your escrow funds. Any updates or changes to your escrow account will be communicated directly by Servion.

Can I opt out of the servicing transfer?: No, you cannot opt out of it. However, this change won't affect your loan terms or agreement.

What should I do if I run into a problem with the new servicer?: Reach out to Servion directly for any servicing-related concerns. If the issue is not resolved to your satisfaction, you may contact the Consumer Financial Protection Bureau (CFPB) or your state's atorrney general's office for further support.

Will this transfer impact my credit score?: No, the servicing change itself has no effect on your credit score. To maintain your credit score, it's important to continue making your mortgage payments on time and update your payment method after the transfer.

Do I need to update my Homeowners or Hazard Insurance?

Yes, it's vital to maintain proper insurance coverage on your home at all times. If your policy is renewing soon, you may receive a request for updated proof of insurance. Typically, a copy of the declaration page will suffice. Please email this documentation, including your loan number, to: [email protected].

Please notify your mortgage insurance carrier that the Mortgagee Clause is changing 6/2/25:

Mortgagee Clause:

Servion, Inc
ISAOA, PO BOX 2061
Carmel, IN 46082

Are there any costs associated with the servicing transfer?: No, there are no fees for the mortgage servicing transfer.