Delinquency rates represent a key indicator of credit union financial health across all lending trade lines. The most effective loan collection activities serve the purpose of protecting a healthy bottom line. When pursued in a friendly and dignified manner, collection efforts also represent great relationship-building opportunities for credit unions.
CU Recovery and The Loan Service Center, a PSCU subsidiary, support and augment Owners’ own collection capabilities with an experienced team specializing in first-party collection efforts that focuses on curing delinquencies as early as possible. Owners specify the approach and scripting for agents and dialing tactics. When delinquencies lead to charge-offs, CU Recovery provides third-party recovery services such as skip-tracing and debt validation to recover monies owed for all loan types and even negative share balances.
CU Recovery and The Loan Service Center serve as a full-service collection and debt recovery resource that helps Owners manage and mitigate loan delinquency rates.