New STAR Module Teaches Advanced Collection Methods

October 3, 2001

FOR IMMEDIATE RELEASE
Contact: Jim Jerving
jjerving@cuna.com
(608) 231-4891

MADISON, WI – Today’s successful collectors use methods that respect the rights of debtors while improving the credit union’s recovery rate. The latest STAR Module, S1310 Successful Collections, is the first staff- training module to portray this new cooperative approach.

Successful Collections stresses an understanding of why some borrowers don’t pay and describes ways to work with delinquent members to recover funds and restore their creditworthiness. This module covers:

• The member service role played by collectors.


• The psychological underpinnings of delinquency.


• Communication skills for dealing with debtors.


• Alternatives to legal action.


• Best practices in the collections department.


• The influence of lending practices on collections.


• Bankruptcy basics.


• Real estate default and collection.

Each chapter begins with an in-depth case study with real-life examples of collections. Chapters end with review exercises that challenge staff to relate information to situations in their own credit unions.

Building on S220 Collections, this is the next step in building comprehensive collections skills. (Prior completion of the S220 module is not required.)

The Staff Training and Recognition (STAR) program provides self-study courses on a wide range of topics. STAR training strengthens staff skills, builds a solid base of credit union knowledge, and boosts staff confidence.

For more information on the STAR program, contact your state credit union league or visit www.cuna.org.

In partnership with state credit union leagues, CUNA’s Center for Professional Development is the premier provider of educational products and services to the Credit Union System. It offers training to credit union professionals in a variety of formats, including schools, conferences, certification programs, and educational print, video and software products. For more information, visit training.cuna.org.

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