Contacts: David Frankil
703-842-2226
dfrankil@nafcu.org
Stephanie Polen
812-647-9573
stephanie.polen@cmcone.com
FOR IMMEDIATE RELEASE
August 6, 2009
CMC AND NAFCU SERVICES RELEASE TIMELY PODCAST ON EFFECTIVE COLLECTIONS IN TURBULENT TIMES
WASHINGTON — NAFCU Services Corporation (www.nafcu.org/nafcuservices) and CMC, NAFCU Services' preferred partner providing credit card processing and servicing solutions to credit unions, recently released a free podcast explaining how credit unions can be successful with collections in today's tough economic climate.
The podcast is available online at www.nafcu.org/cmc.
The podcast, titled "Effective Collections in Turbulent Times," features an interview with CMC's vice president of risk operations, David Clune. He discusses the current trends in collections and the credit card market, as well as outlines innovative actions that credit unions can take specifically in response to these trends in order to help promote an effective collections strategy now.
"Collections is never an easy task," explains Clune. "And in today's market, credit unions face an even greater challenge when it comes to fostering an effective collections program. It's imperative for credit unions to understand the necessary tools, from etiquette and customer service to special collection hardship programs, that will be the keys to their collections success."
"Times have definitely changed," states David Frankil, president of NAFCU Services Corporation. "The strategies for collections and managing credit card portfolios that may have worked ten, five or even just a couple years ago, may not work for credit unions today."
About CMC
CMC provides servicing solutions and product engineering for financial institutions and retailers for credit card, debit card, merchant and private label programs. Through its multi-channel contact center, CMC provides multi-lingual customer service, collections, fraud prevention, and other back office services to thousands of clients in the United States, Canada, Mexico and Brazil. CMC is the NAFCU Services Preferred Partner for credit card processing and servicing. For more information, please visit www.cmcone.com.
About NAFCU Services Corporation
NAFCU Services Corporation is a wholly owned subsidiary of the National Association of Federal Credit Unions (NAFCU). Since 1975, NAFCU Services has partnered with the industry's leading solutions providers to offer value-added products and services at a discount to credit unions. Currently, it offers 24 Preferred Partner programs to the credit union community. For more information about NAFCU Services Corporation, please visit www.nafcu.org/nafcuservices.
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