A new white paper from the CUNA Lending Council reports that the ongoing poor economy is forcing more credit unions to focus greater attention on collection than they did previously.

“Collections has always been on the back burner,” noted Jessica Anderson, collections manager at the $400 million 121 Financial Credit Union in Jacksonville, Fla. “We know they’re making a difference, but we’ve never seen the true impact of collections’ successes or losses until we’ve reached these economic times.”

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