Listening carefully can help collection officers bring delinquent loans current and retain member relationships.
Michigan-based CUSO launched site a year ago, also touts growth of outsourced collections option.
Credit unions from Louisian, Florida, Illinois, Missouri and Washington state sign on for outsourced collections help.
The lingering slowdown that is afflicting the U.S. economy is forcing credit unions to pay more attention to collections, a part of their business that is often forgotten or ignored, according to a new report prepared by the CUNA Lending Council.
CUNA Lending Council says more collections cases now coming from the formerly affluent.
An expansion of PSCU Financial Services' credit card collections service will increase the hours of calling and boost collections rates, the CUSO said.
PSCU Financial Services has expanded its credit card collections service to include automated calling during extended hours the CUSO said will help credit unions increase collections rate.
PSCU Financial Services has expanded its CUCollect credit card collection service to offer collection efforts on other types of loans.