Experts familiar with the field say ability to listen carefully is the most important skill a collection specialist must have if the creditor credit union wants to both bring loans current and retain member relationships.
"Our staff really get to know these members," explained Anne Marie Foote, the collections manager for United Solutions Company, a Tallahasee, Florida, vendor. "They know who needs their car to get grandma to her cancer appointments, who can make a payment earlier in the month, but not late in the month and who is probably late with a payment because of school costs. They really know these members and believe in the credit union ethic of people helping people."
The listening approach not only helps the member keep feeling connected to the credit union even while going through financial difficulty, Foote explained, it also helps motivate the delinquent member to keep making payments and, if possible, to even step up those payments.
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