Core processing CUSO, CU*Answers admits that increasing collections work is normally not a good thing but when you are assisting your client’s needs it is productive news. CU*Answers handles Collections for their clients and reports that the volume of clients is increasing. At the same time last year CU*Answers was doing about 6,800 accounts a month and they are now handling over 9,100 accounts each month and they have clients contacting them frequently to do work for them. Jerry Collins, the Collections team lead, attributes this to the past performance of the team.
“The word is getting out about how we do Collections and take a personal interest in working the accounts not just getting a promise to pay and moving on. It helps strengthen both the member’s relationship with the Credit Union and the Credit Union’s relationship with CU*Answers,” Collins noted. “We use the same ‘Playbook’ the Credit Union uses and we work in our own brand of questions to find solutions not just prolonging delinquency. In addition, we are able to keep the database updated and that helps with marketing plans for the Credit Union.”