Listening to Members Drives Collection Results
The ability to listen carefully is the most important skill a collection specialist must have if the creditor credit union wants to both bring delinquent loans current and retain member relationships.
“Our staff really gets to know these members,” said Anne Marie Foote, collections manager for United Solutions Company, a Tallahassee, Fla., provider of collections services to credit unions.
Wendy Elieff, vice president for sales and service for CU Recovery and The Loan Service Center in Wyoming, Minn., agreed that listening to credit union members is a big part of a strong collections effort that both cuts delinquency and strengthens member relationships.
“I agree it is intimate,” Elieff added. “We are helping members resolve problems and means we have to know what the problems are. The members trust us. We aren't just another call center calling them up to harass them about a late bill. We care about where that bill fits into the rest of their financial life and we want to help them overcome their difficulty.”