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News Now

CU System
Illinois LSC helps collectors connect compete
NAPERVILLE, Ill. (6/29/10)--More than 50 credit union representatives attended collectors roundtable events hosted by Creditors Resource Services (CRS), a division of the Illinois Credit Union League Service Corp (LSC). CRS has conducted the events for the past 11 years. "These meetings are an extreme benefit for the recovery specialists in our state to network," said Sheila O'Leary, manager of CRS. "They discover their situations are the same, no matter their location, and learn how to deal with their members in a unique way to be successful." This year's roundtable discussions centered on bankruptcy, foreclosure checklists and remarketing of vehicles. When the roundtables aren't in session, LSC hosts an active listserv so collectors around the state can network and seek advice on issues they may face in their credit unions. About 150 people representing more than 100 credit unions of all sizes use the listserv. The roundtables and listserv act as support for the group and help foster the sharing of techniques. The dialogue also helps participants benchmark their efforts against what is happening in the marketplace, helps raise the profile of how collections contribute to a credit union's bottom line, and move past the perception of dubious tactics used in collections in the past, said the LSC.


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