September 7, 2023
Often, credit unions have limited staff to complete the tasks pertaining to collections, which makes the process time-consuming and inefficient. Credit unions are looking for tools to streamline the process, create efficient workflow, and provide members with ease of use.
Corry Federal Credit Union (FCU) was one such organization struggling with creating an efficient collections process. Their primary challenges included:
Corry FCU first discovered the collections solution, Rocket Collector, while attending a Sharetec Users Conference. The fact that this software fit perfectly into their core made this solution the clear choice for their organization. “We chose Sharetec for a number of reasons,” stated Corry FCU CEO, Stacey Heiser. “One- it was recommended by GBS, two- we love the streamlining, and three- the support staff at Sharetec were great to work with.”
After purchasing Rocket Collector, Corry FCU found integrating and working on the project to be quite straightforward. The program was easy for employees to learn, and they noticed positive results immediately after implementation. Responses from Corry FCU members with delinquent loans became much quicker, as they were now able to communicate via email instead of by phone.
The efficiency of the collections process improved dramatically, resulting in a faster completion time. An employee new to collections expressed how the program helped her become more organized with the steps that are needed. Overall, the ability to streamline the process and the improved workflow exceeded Corry FCU’s expectations.
Providing a 360-degree view of customer debt, Rocket Collector offers advanced functionality, automation and insight to dramatically increase efficiency and reduce costs versus traditional methods and manual processes. Additionally, the solution is well-suited for a variety of industries and organizations—including credit unions, banks, debt collection agencies, attorneys, financial services, loan servicers, telecom/utilities and local government—and boasts a multitude of benefits and features.