EVENT:
Collections (Session Code: 473)
Being the manager of the collections function is not just about dialing for dollars and repossessing collateral anymore. The collections area is at the cross roads of member service and back office operations and the manager needs to be aware of all the risks and opportunities that present themselves. Collections is about more than the institution’s delinquency ratio and you need to be prepared!
Part One (What Makes Members Pay)
· Identifying Your Financial Institution’s “Value Proposition”
· Collections and the Financial Health of the Credit Union
· Collections as a Member Service
· Prioritizing Collection Efforts
· Pre-Contact Preparation
· Essential Elements of a Collections Phone Call
· The Art of Closing the Call
Part Two (Creating Fool Proof Collections Processes)
· Compliance Traps and Regulatory Requirements
· The Secret of Active Listening
· Dealing with Difficult Members
· Responding to a Broken Promise
· Overcoming the Most Common Objections to Payment
· Follow Up Strategies
Part Three (Special Collections: From Skips to Repos to Real Estate)
· Repossession and Foreclosure Issues
· Skip Tracing Resources and Tips
· Third Party Collections
· Basic Premise for Real Estate Collections
· Modifications and Workouts for Real Estate Loans
· Troubled Debt Restructuring
· Understanding and Communicating the Recovery Options
· Maximizing the Mortgage Collections Cycle
Illinois Pricing:
CU's 6 million and above: $169.00 1st attendee $144.00 2nd attendee
CU's Below 6 million: $149.00 1st attendee $124.00 2nd attendee
Contact: Drew Kayvani (Illinois Credit Union League)
Phone: 630-983-3418
Fax: 630-983-3212
Email: drew.kayvani@ilcusys.org