PSCU Beefs Up Collections
An expansion of PSCU Financial Services' credit card collections service will increase the hours of calling and boost collections rates, the CUSO said.
The new CUCollect-Core service makes up to three calls a day from 8 a.m. to 9 p.m. while professional operators answer inbound calls to take urgent payments over the phone and record account updates.
The service can make 10,000 calls an hour and touch cardholders up to 20 times per month and claims a 70% right-party connect ratio.
"Credit unions can boost collections and reduce losses with extended hour services conducted by our experienced collections staff," said Donna Floyd, collection relationship manager. "The cooperative charges a flat fee per account with no additional charges for urgency payments, which are very attractive pricing for the credit union."
PSCU said its 10-year-old collections service has converted more than 50% of delinquent accounts to current and makes 500,000 calls to credit union cardholders monthly. Collections services for all loan products are available, the CUSO said. It has call centers in Detroit and Phoenix and at its headquarters in St. Petersburg, Fla.