Contacts: Jason Kaster
Chief Operating Officer
NAFCU Services Corporation
FOR IMMEDIATE RELEASE
March 14, 2011
Unifund Partners with NAFCU Services Corporation to Offer Delinquent Debt Liquidation Options
WASHINGTON, D.C – NAFCU Services Corporation, a wholly owned subsidiary of the National Association of Federal Credit Unions, has named Unifund as its exclusive Preferred Partner for purchasing and managing delinquent debt. One of the country’s leading purchasers of under-performing and distressed consumer receivables, Unifund offers credit unions an opportunity to unlock the value of dormant delinquent receivables.
“Many credit unions make an initial attempt to collect on delinquent debt, often with firms working on a contingent basis. If this approach is unsuccessful, credit unions don’t have to resign themselves to taking a hit on the balance sheet, “said David C. Frankil, president of NAFCU Services. “Unifund will purchase or manage the liquidation of that delinquent debt, allowing credit unions to realize a return without significant transaction costs.”
“As part of our partnership with NAFCU Services, we’ll work with credit unions to help identify the optimum value of their charged-off debt with processes that compliment and enhance current collection efforts,” noted Cindy Luckman, vice president of sales for Unifund. “We also adhere to a strict code of conduct to ensure that debtor rights are protected. We are compliant with federal and state consumer collection laws and adhere to strict data protection protocols.”
Unifund services over $1.5 billion for clients and has purchased or managed over $6 billion of debt in the last 3 years. In addition, Unifund founder and CEO David Rosenberg authored the “Debt Buyers Guide for the Asset Buyers Division of the Association of Credit and Collection Professionals.”
More information about the partnership is available at www.nafcu.org/unifund.
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 28 Preferred Partner programs to
the credit union community and maintains the credit union locator website CULookup.com. For more information about NAFCU Services
Corporation, please visit www.nafcu.org/nafcuservices.
Unifund is one of the country’s leading purchasers, sellers and managers of under-performing and distressed consumer receivables. For over 25 years, Unifund has offered sellers an opportunity to unlock the value of their dormant delinquent receivables and offers buyers the opportunity to acquire accounts that best fit their business models. As a pioneer and innovator in the Accounts Receivable Management industry, Unifund has created may of the products, strategies and procedures that are now in the marketplace. For more information about Unifund, visit www.unifund.com.