Progressive FCU Slashes Delinquency by 8.84% in 8 Months

CU*SOUTH, a regional provider of CU*BASE data processing services, recently announced its Managed Services Collections division assisted Progressive Federal Credit Union of Mobile, AL, in drastically reducing its overall delinquency from 13.24% to 4.40% during a time period of 8 months.

According to Rebecca Weemes, Collections Manager, the improvement with the credit union’s portfolio was needed to align with its overall strategic vision of expanding into a new facility and requesting a change in its charter in order to seek more opportunities for growth.  The key to its success in this instance was consistent and open communication with members in delinquency.

“I am looking forward to watching Progressive continue to grow and profit in 2011,” remarks Weemes.  “We take pride that the services provided by our Managed Services division are helpful to our credit union clients during times of economic volatility,” she continues.