Facing the Challenges of Call Center Size

Small and micro-sized call centers face a variety of obstacles unique to the size of their facilities.  Similar to many credit unions who operate on a smaller scale, small call centers (defined by containing less than 50 agents) and micro call centers (less than 15 agents) are often forced to apply a large call center mentality, which can be like trying to fit a square peg into a round hole.

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Vehicle Loan Protection Options

Springtime has finally arrived and with it, the onset of car buying season. Dealers are busy working on getting your borrowers into their dream vehicles, pulling out all the stops with rebates, incentives, and lower interest rates.

Now’s the time to put those best practices we mentioned in our February newsletter to use. The member is in front of you and ready to close on the loan. Did you remember to protect them, their vehicle, and the credit union? Did you offer the member the Protection Package?

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The Benefits of Remarketing Vehicles at Auction

In today’s uncertain economic climate, more and more lending institutions are seeking the highest return possible on the sale of repossessed vehicles to help lower their increasing deficiency balances. It’s no secret that the longer a vehicle stays on the market, the more value it loses. Recent studies show that a vehicle’s value depreciates at a rate of 1.5% per month. There are several options available for financial institutions when it comes to reselling vehicles. Some institutions opt for reselling on-site, while others utilize wholesale auctions.

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Making ECM Work for You

SWBC works closely with its clients to understand the needs of the industry and to provide the products and services to improve efficiency and effectiveness for financial institutions and their customers. After recognizing a need for a cost-effective tool to aid with phone collections, SWBC launched the Electronic Cash Management (ECM) product. SWBC currently processes an average of 750,000 transactions and approximately $375 million worth of secure and convenient electronic transactions annually.

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The Challenge for Credit Unions, Rising Delinquency and Charge-offs

The foundation for credit unions is built on the dedication to its members. Credit unions were “not for profit, not for charity, but for service,” and that motto still rings true today. Membership lending has always been a rewarding part of the credit union service philosophy; however, as we navigate through these difficult economic times, credit unions are facing the unsavory results from rising delinquencies and charge-offs.

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