Florida-based Collection/Asset Recovery Service CUSO Adds Four CU Clients
TALLAHASSEE, Fla. - Four Florida credit unions have signed on as clients of United Solutions Inc., a collection/asset recovery service subsidiary of United Datatronics Inc., to improve the recovery results of their charged off loans. UDI is owned by seven Tallahassee-area credit unions. It provides a variety of data and shared branching processing services, accounting services, facilities management, and optical archiving, retrieval and imaging. The four credit unions to sign on to USI's services are SCORE FCU, Tallahassee; Florida Telco CU, Jacksonville; 8 Flags FCU, Fernandina Beach; and South Florida FCU, Miami. South Florida FCU is also using USI's past due loan collection service. According to USI, the CUSO's 2002 charged-off loans recovery rate average 31% for its entire client base. The CUSO's fees are based solely on a flat percentage of the amount actually collected, with the payments going directly to the credit union.