CU Recovery & The Loan Service Center Building Expansion More Room, More Collectors, Better Service

FOR IMMEDIATE RELEASE

WYOMING, MN; December 14, 2017.   CU Recovery, Inc. and The Loan Service Center have been in an active growth pattern for the last 7 years, with double digit growth during the last 18 months. Adding over 115 new clients necessitated a 24% growth in CUR/TLSC collectors resulting in a building expansion project, completed earlier this month.

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2018 NorthLegal Conferences

FOR IMMEDIATE RELEASE

NorthLegal Training and Publications has announced the dates and locations for its 2018 bankruptcy and collections conferences.  Registration is now open, so if you plan on attending you can do so now using this year’s or in a few weeks using next year’s, whichever works best for your budget.

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LAFCU’s Art Sookazian Named CU Times Trailblazer 40 Below Honoree

FOR IMMEDIATE RELEASE

Los Angeles, CA – December 19, 2016 – Art Sookazian, Vice President of Special Services at Los Angeles Federal Credit Union (LAFCU), was recently named one of the recipients of the Credit Union Times’ 2016 Trailblazers, 40 Below program, which annually recognizes young credit union executives who are creating innovative advances in the credit union industry. Because of the distinction, Art was featured in the November 30, 2016 issue of CU Times Magazine and CuTimes.com, which included a series of articles highlighting the recipients’ professional accomplishments. The special issue profiled Art’s most recent achievement of cutting loan delinquencies at the $882 million credit union by more than half. The article said Art spearheaded the use of automated reports to improve processes and reduce loan delinquencies from 1.57% to 0.37% over a period of 24 months.

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Strategic Growth Continues at CU Recovery, Inc. Business Development Department Expands for the 3rd year

CBeckerFOR IMMEDIATE RELEASE  

WYOMING, MN; May 9, 2016.   CU Recovery, Inc. and the Loan Service Center, Inc., the leading full-service collection agency and collection staffing solution for credit unions, have named Chris Becker as their newest Business Development Representative. Chris will play an integral part in the continuation of the company’s growth and strategic expansion model.

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Are You the Flavor of the Month?

IC_FOTMGuest Editorial

Are you being contacted by clients you have not heard from in years, or even clients you have never heard of?  There seems to be a scurry of inquiries about our services all around the nation lately.  Could this mean clients are becoming disenchanted with the forwarding model that took over not so long ago?  Have lenders finally figured out that with all the forwarding companies out there, regardless of which one they choose, they are still getting the same sub-standard cheap agents over and over again?

So let’s look at some of the different flavors:

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Strategic Planning for 2016 – CU Recovery Analysis on In-house Collectors vs Outsourcing

cur_strtgcplnng2FOR IMMEDIATE RELEASE

Wyoming, MN – September 21, 2015 – Strategic planning is an essential first step in the budgeting process. A solid strategic plan lays out the direction and goals of the credit union, as well as criteria for actions to reach the goals. The amount of money available determines, to a large degree, what options can be entertained. As goal setting moves forward, if the credit union doesn’t have the budget to support its strategic plan, it will need to either modify the goal or find a financial means to support it. This is especially important during times of growth, when the question can be whether to add to staff, or outsource portions of the workload.

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ROA Partners With NCCI Providing Field Contact Services

ROA_logoNew partnership helps reduce loan losses for ROA clients

FOR IMMEDIATE RELEASE

PASADENA, Calif., June 18, 2015 — Remarketing of America (ROA), the premier risk management and loss mitigation provider of recovery and remarketing services for the financial services community, has partnered with National Creditors Connection, Inc. (NCCI) to provide field contact services for lenders nationwide.

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Measuring Collection Department Results Challenging the Status Quo

cu_rcvryFOR IMMEDIATE RELEASE

Wyoming, MN May 19, 2015.      Most companies apply performance measurements to evaluate their success at reaching targets, as well as their effectiveness in achieving key business objectives. Credit union collection departments also look at performance indicators to measure recoveries, delinquency levels, and the number of charge offs.  CU Recovery, the leading collection resource for credit unions, observes that when collection departments concentrate on metrics and averages, overall performance can be diminished. The company agrees, that while performance indicators are important factors, it has nonetheless reverse engineered the traditional mindset in order to establish a focus on collection call quality as a key factor in improving process and impacting financial results.

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FTC Brings First Case Alleging Text Messages Were Used In Illegal Debt Collection Scheme

ftc_logoDefendants Will Pay $1 Million to Settle Charges

A Glendale, California-based debt collector will pay $1 million dollars to settle Federal Trade Commission charges that the defendants violated federal law.  This is the first FTC action against a debt collector who used text messaging to attempt to collect debts in an unlawful manner.

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