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For many credit unions, a charge-off is a goodbye kiss for payments that will probably never arrive. But the Torrance, Calif.-based Torrance Community Credit Union, which has about $118 million in assets and 7,600 members, recently managed to recover a remarkable 100% of its 2014 credit card charge-offs.

“I’ve never seen an institution have a 100% recovery rate,” CSCU Senior Portfolio Consultant Dean Knudtson said. Knudtson’s team works with member credit unions to analyze their credit and debit portfolios, including revenue metrics, marketing, charge-offs, noninterest income and expenses, and other factors.

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Tina Orem


Credit Union Times

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