While launching and managing a collections program for any type of loan can be a challenge, some credit unions, regardless of size, may view outsourcing as a viable and efficient solution.
Understanding how to meet a cooperative program's needs is part of Donna Floyd's role as the collections relationship manager for PSCU Financial Services, the St. Petersburg, Fla.-based payments CUSO that offers servicing to credit unions on the First Data Corp. card platform.
Another part of Floyd's job is to manage PSCU's program and its 22 collections specialists, who collect on a wide variety of different loan products for over 50 credit unions and more than 20,000 accounts each month.
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