Delinquency Management
Credit union collections solutions
Minimize losses with our outsourced delinquency management suite tailored for credit unions.
Minimize losses with our outsourced delinquency management suite tailored for credit unions.
Managing delinquent accounts effectively is essential to a credit union’s success. In fact, delinquency rates are a key indicator of credit union financial health across all lending trade lines. However, many credit unions face the challenge of limited internal resources and in-house expertise.
TriVerity, a Velera company, is a full-service first- and third-party collection agency that manages delinquency with a comprehensive menu of collection services — all while maintaining positive member experiences.
TriVerity’s first-party collections solution provides a proactive approach to early-stage delinquency, allowing credit unions to address past-due accounts before charge-off. By leveraging next-generation digital technology and highly skilled, tenured staff, we combine automated and advanced outreach across all delinquency stages, reducing costs and improving efficiency.
When delinquency reaches a more advanced stage, third-party collections experts at TriVerity step in to help maximize recoveries while maintaining positive member interactions. Our team specializes in handling tough accounts while ensuring compliance with all regulatory requirements.
“After bringing our Visa portfolio in-house, we faced two vacant collection queues and needed to reallocate internal resources. To ensure continued coverage, we researched outsourcing options and chose TriVerity as our collections partner.”
U.S. household debt continues to increase. Credit unions must remain innovative and enhance their debt recovery solutions to best serve members.
In this blog, David Knowles, President of TriVerity, a Velera company, discusses the future of first-party collections and key factors for credit unions to consider as they plan ahead for the new year.
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TriVerity is a comprehensive first- and third-party collection agency dedicated to managing early-stage delinquency, non-performing loans and charged-off loans.
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