PARCHMENT, Mich.–Advia Credit Union said it is expanding its relationship with CU Recovery & The Loan Service Center, a PSCU company. In addition to third-party support services for recoveries on charged-off loans and shares, The Loan Service Center (TLSC), a Wyoming, Minn.-based first-party delinquency management solution for all loan types prior to charge-off, has begun providing early-stage payment reminders for the credit union.
In looking for additional collection services, the $2billion Advia Credit Union was seeking a partner that would build a solid relationship with its early-stage delinquent members, keeping them engaged and paying their loans, the company said.
‘Impactful Reduction’
The credit union specifically wanted to see an impactful reduction in the number of members that default on their loans at the 30-day mark. As an organization that seamlessly integrates with the credit union collection team to provide quality calls and comprehensive collection notes, TLSC was the ideal fit, the company reported.
“Collaborating with The Loan Service Center will enable our in-house collection team to maximize their time, focus and efforts on creating optimal resolutions for later-stage delinquent members,” said Joe Trotter, manager of collections, Advia Credit Union. “We selected TLSC in part because of the team’s willingness, enthusiasm and commitment to work hard on collecting early-stage debt. TLSC’s early returns on both quantity and quality of calls has been impressive as well.”
TLSC said it began providing early-stage payment reminders after thoroughly reviewing Advia’s goals and department culture, developing a smooth implementation that produced immediate results.
“We are especially proud to continue to grow and expand our relationship with Advia Credit Union,” said Wendy Elieff, senior vice president, client service and marketing, with CU Recovery & The Loan Service Center. “We look forward to continuing to work alongside the credit union’s delinquency management team while maintaining the consistency of the member experience.”
The Solutions Offered
A full-service collection agency, CU Recovery said it is dedicated to maximizing recoveries on charged-off loans exclusively for credit unions. The Loan Service Center provides staffing solutions for credit union collection departments to minimize losses on their delinquent active loan portfolio.
For info: curecovery.com.