If your collections staff is simply “dialing for dollars” from your members, then you are not getting the most out of your collections process. We can help! The current credit crunch is having a negative impact on many of your members and credit unions are in a unique position to assist them. Is your collections department ready to help both the member and the credit union weather the storm? From extensions, to deferments and re-aging, to refinancing and short sales, there are numerous ways to work with members during the “financial crisis”. But your staff needs to know when and how to use the tools effectively. This session examines the nuts and bolts of an effective collections program and centers on the proper use of loan modification and workout tools to resolve member payment issues.
Speaker: David Reed is an attorney, author, consultant and nationally recognized speaker, David A. Reed is a partner in the law firm of Reed and Jolly, PLLC and founder of CUDoctor, a full service credit union consulting practice. Through Reed & Jolly, Mr. Reed provides guidance to credit unions concerning a variety of matters including the establishment and revision of credit union policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters and corporate governance.