FEDERAL WAY, Wash. (1/16/08)--Ascend United, a broker of credit union debt and a credit union service organization of the Washington Credit Union League, launched a website to help financial institutions understand debt aggregation and sales. “Our hope is to demystify the straight-forward world of debt sales,” said Phillip Slater, program manager. “The sale of distressed debt has been a common and accepted practice in the banking industry for years. However, most credit unions have been left out due to the small size of the loan pools and their distrust of the buying community.” The site, Ascendunited.com, will house articles and opinion pieces about the debt collections, aggregation and sales business. “Our goal is to shed light on the current state of the industry, increase the effectiveness of in-house collections departments, and provide an opportunity for all financial institutions, regardless of size, to increase their bottom line or facilitate changes in their lending business by selling their charged-off or performing debt,” Slater said. Ascend offers products for financial service companies, including management of third-party collection programs, training, consulting and debt sales, and aggregation services.