BOSTON — Success requires good vendor management, but credit unions can gain revenue by outsourcing collections, said Marney MacFadyen, vice president of sales at Credit Control, a St. Louis-area firm that provides the service.
MacFadyen shared the risks and rewards of the practice with attendees at NAFCU's Annual Convention on Wednesday at the Hynes Convention Center in Boston.
Also at NAFCU Annual Conference:
- 4 Big Things from Confab
- Becker Calls it a Wrap
- Dollar Says Let Golden Goose Live
- Matz Reveals New Risk Rule
- Thursday in Pictures
- Non-Interest Income Balance
- Berger Promises Training Boost
- CFPB is Good for You
- Beantown Vox Populi
- Wednesday in Pictures
- Non-QMs Offer Opportunity
- Losing Money at Loan Closings
- New Officers for 2013-2014
Benefits of outsourcing past due loans include reduced overhead, compliance and technology costs, new revenue streams, and in contingency agreements, costs based only upon results.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
