WYOMING, Minn.–CU Recovery reported that its 2016 Collection Academy was another successful exchange of ideas on how credit unions can increase effectiveness in their collection departments. The sold-out crowd included participants from credit unions from around the country. Many sent several people to take advantage of the rich content found in four separate sessions and in open floor discussions with their peers, the company said.
Wendy Elieff, Vice President of Sales & Service, facilitated the 2 1⁄2 day conference. According to Elieff, the purpose of the conference was to “to share the wealth of knowledge that each credit union brings and with timely topics presented by experts in their respective fields.” “Valuable time was spent exchanging ideas with peers and meeting the experts who conducted the sessions.” Wendy continued.
In the opening session, timely tools and techniques were shared, illustrating how ‘cybertracking’ can aid in helping collection departments succeed. In a subsequent session, the use of Neurolinguistics was demonstrated with how the use of specific words and tone can help resolve member objections to debt payment. Other sessions included presentations on the complete services that CUR/TLSC provide for their clients, expert and peer discussions on compliance, vendor relationships and bankruptcy best practices. Participants enjoyed a post-session tour of CU Recovery headquarters, finding a visual illustration of the values and commitment that CU Recovery/ The Loan Service Center provides for their clients and the industry.
The next CU Recovery Collection Academy is scheduled for October, 2017 and will feature topics designed to increase the productivity and effectiveness of credit union collection departments.