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Collection Department names

  • 1.  Collection Department names

    Posted 4 days ago
    Good Morning CUES land, I recently have attended a collections and bankruptcy training and the speaking first talked about what is your department name?  We need to think about how to be member oriented vs credit union oriented.  Currently, we call our collections area Asset Recovery.

    I am curious what others call their collections departments.

    Brad

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    Brad Hudson CPS CSE
    Director/Operations
    University of Kentucky FCU
    Lexington KY
    859.257.2678
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  • 2.  RE: Collection Department names

    Posted 4 days ago
    We chose to move from the negative Collections Department to Member Solutions.  Seems to soften the initial conversation from "you're past due" to "how can we help".

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    Kevin Jones CCE
    President/CEO
    Select Seven CU
    Johnson City TN
    423.282.0671
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    Original Message


  • 3.  RE: Collection Department names

    Posted 3 days ago

    +1 on "Member Solutions"

     

     

    Ryon Brubaker

    Senior Vice President -  Information Technology

    8763 Union Centre Blvd. • West Chester, OH 45069

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    Original Message


  • 4.  RE: Collection Department names

    Posted 3 days ago

    We changed to Credit Solutions a few years back. It seems to be a little more friendly...

     

    Barbara A. Appold 

    President/CEO

    United Financial Credit Union

    Administrative Office

    4685 State St

    Saginaw MI, 48603

    ( (989) 399-8602

    ( (989) 399-8653 (fax)

     




    Original Message


  • 5.  RE: Collection Department names

    Posted 3 days ago
    Good morning- We also use the name Member Solutions, for all the reasons already discussed.

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    Robyn Mannone
    VP/Retail Lending
    APG FCU
    Aberdeen MD
    410.272.4000
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    Original Message


  • 6.  RE: Collection Department names

    Posted 3 days ago

    Hi Brad,

     

    At FedChoice, our department name is somewhat similar to yours – Recovery Services.

    Debbie Wright
    Product and Service Strategist
    FedChoice Federal Credit Union
    Tel: 301.699.6100 x4480
    Fax: 301-699-6137/6141
    Email: DWright@fedchoice.org
    fedchoice.org
    FedChoice ‑ Altogether Better!
    We Want to Save You Money - Learn More About How We Could Help!
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    Original Message


  • 7.  RE: Collection Department names

    Posted 3 days ago

    Hello,

     

    Our collections department is called "Loan Services."

     

    Thanks,

     

    Jenna Lampson

    President/CEO

    925.609.5206

    925.609.3206 - fax

    www.pacificservice.org

     


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    Original Message


  • 8.  RE: Collection Department names

    Posted 3 days ago
    We changed ours to Credit Resolutions.

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    Kris Watkins CUCE
    Compliance/Security Officer
    CapEd CU
    Meridian ID
    208.884.0150
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    Original Message


  • 9.  RE: Collection Department names

    Posted 3 days ago
    Edited by Kimberly Caldwell 3 days ago
    Good morning,

    A few years back, we re-branded our Collections department as "Financial Solutions". The team now is highly skilled at connecting with the members, better understanding the story of why the member might be falling behind, and showing empathy. And the best part is that it's working! Even through all of the deferrals of last year, our members find ways to make payments. Sometimes a member cannot avoid repo/ charge off, but even in those instances our team dedicates energy to exhaust the member's options.

    Please let me know if you would like to connect with our Financial Solutions leader. Enjoy your day!

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    Kimberly Caldwell
    Finance Controller
    Sun Community FCU
    El Centro CA
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    Original Message


  • 10.  RE: Collection Department names

    Posted 3 days ago
    Good morning Brad,
    I've worked for 2 credit unions. One has had an Asset Recovery team, such as yourself. However, the other credit union, referred to it as a Loss Mitigation department, which I thought I was incredibly helpful for the member perception. On numerous occasions we heard feedback members liked that the team was prepared to be a person to work with them and mitigate a conversation before it became a loss.
    Best of luck!

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    Amber Stutzman
    Member Loyalty Manager
    Oregon Community CU
    Springfield OR
    541.687.2347
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    Original Message