WYOMING, Minn. -

CU Recovery understands credit unions can be inundated with volumes of figures associated with recoveries, delinquency levels and charge-offs. So the consultant company spelled out five performance indicators that could be improved by enhancing the training time spent developing collection call quality and efficiency.

The company emphasized the five metrics where credit union collection managers could see the most improvement include:

• First call resolution

• Conversion rates

• Length of calls 

• Quantity of calls

• Collector confidence

“Most companies apply performance measurements to evaluate their success at reaching targets,” CU Recovery officials said.

When collection departments get locked into quantitative assessments, they may not be able to find the kind of insight needed to pinpoint areas that need improvement on an individual basis,” they continued. “A process focusing on different call types and their structures will better determine areas that need improvement, thereby adding to the enhanced results credit union managers are seeking.”

CU Recovery and The Loan Service Center explained they are solution providers with the credit union member philosophy as the basis of all interactions with the members. Collection training is available to credit unions nationwide.

“There is no status quo with CU Recovery.  As the needs of credit unions change, so do the services provided,” company officials said.

More details can be found at www.curecovery.com.