Wyoming, MN January 13, 2014 – In the face of tepid economic predictions for 2014, CU Recovery recognizes that a change in the pulse of the credit union marketplace is an economic indicator that can be measured by an up-tick in loan growth. And, the natural offshoot of loan growth is loan delinquency. In the last 30 days, The Loan Service Center has experienced significant growth in new client start-ups; in fact, more growth than the first 2 quarters of 2013 combined. This type of growth is the result of a unique LSC business model designed with a member focused philosophy in mind. Building relationships with delinquent members combined with advanced, practical collection knowledge is what makes it work.
Working with credit unions exclusively for the past 23 years, CU Recovery notes that many Credit Unions have become more proactive in weighing their department capacity vs the efficiency that is needed to handle existing or increased delinquency files. Many times the credit union is faced with a lack of physical space, an insufficient employment base for recruiting new collectors, or a shortage of time and specialized training needed to bring a new collector up to speed. Many credit unions weigh these factors against a concern over their relationship-building philosophy that can be lost as a result of outsourcing their early stage delinquent members to a generic collection call center.
Wendy Elieff, Vice President of Sales and Service for CU Recovery, “We are not a call center, our collectors are solution providers who employ the credit union philosophy foremost in all interactions with their members.” Elieff continues, “The main goal is to help the members resolve their financial issues so that they can retain their standing with the credit union.”
About CU Recovery & the Loan Service Center
CU Recovery, Inc. is a full service collection agency, working exclusively for credit unions, dedicated to maximizing recoveries on charged off loans. The Loan Service Center, Inc. provides staffing solutions for credit union collection departments to minimize losses on their delinquent active loan portfolio. The CU Recovery Collection Academy is a resource for continuing education to assure the success of Credit Union collection departments in meeting their member service and delinquency reduction goals. For more information: www.curecovery.com