2/26/2020 06:46:34 am
Thinking how to process some of money from credit union.
Gerry Weston
2/26/2020 03:15:23 pm
Like Brian said, "no one WANTS to talk about collections". This thinking is reflected both externally and internally. As the Member Solutions Manager at Inspirus CU, I realized value in leveraging member loyalty externally and educating my team on the value of of collections to performing members. Member loyalty resulted in our members favoring the credit union and servicing CU debt where they may not be servicing other debt (long-term planning should focus on how the member will ultimately service all debt, protecting the CU's exposure). Internally, it's important that collections teams recognize that members not "in collections" are as dependent on delinquency performance and charge off ratios as those factor in to the cost of funds for performing members. Collections realizes its value as an active part of the entire loan administration team (and the best collections teams, in my opinions, are working hand in hand with credit and lending teams). Collectors work best not by "staying in their lane" but by branching out and comprehensively understanding their value to the entire organization. Comments are closed.
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Mike Lawson, HostMarried to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple. Categories
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