Wyoming, MN – November 16, 2015 – CU Recovery’s 2015 Collection Academy was another successful exchange of ideas on how credit unions can increase effectiveness in their collection departments. The sold out crowd included participants from 55 credit unions representing 18 different states. Many credit unions sent several people to take advantage of the rich content found in 4 separate sessions and in open floor discussions with their peers.
Wendy Elieff, Vice President of Sales & Service, facilitated the 2 ½ day conference. According to Elieff, the purpose of the conference was to “educate, inspire and instigate attendees in managing their departments with timely topics presented by some of the best experts in their respective fields.” “It was also a time to meet with peers and the experts conducting the sessions to compare notes and find collection ideas and solutions that work for credit unions of any size.” Wendy continued.
Participants found the pre-session tour of CU Recovery headquarters to be a visual illustration of the values and commitment of the CU Recovery/ Loan Service Center staff. In the opening session, timely information was shared on what is currently happening in the area of compliance and how credit union collection departments can continue to effectively do their job while meeting new standards. In a subsequent session, the 5 Academy scholarship winners presented their winning entries, sharing an idea or process that they implemented at their credit union that resulted in noticeable improvement in morale or operational process.
Each presentation was followed by an open floor discussion and at the end of the session, attendees were asked to vote for their favorite idea. The voting was close, but Stephanie Fredrickson of Members Cooperative Credit Union emerged as the winner with her entry Identifying Obstacles and Empowering Staff through LEAN Training. Another session covered managing communication with the purpose of resolving member objections to debt payment. In the final session, the topic involved the use of Outlook as an e-mail and scheduling resource, instead of an annoyance and interruption to productive work hours. After ‘aha’ moments and lively discussions, attendees were anxious to try out the valuable tips presented.
The next CU Recovery Collection Academy is scheduled for October, 2016 and will feature topics designed to increase the productivity and effectiveness of credit union collection departments.
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