Nine more credit unions have signed up to use collections outsourcing services from Lending Solutions Inc.
The four named in the company announcement were $167 million Family First FCU of Orem, Utah, $46 million Kentucky Employees CU of Frankfort, Ky., $47 million Northwoods CU of Cloquet, Minn., and $21 million Winthrop-University Hospital CU of Minneola, N.Y.
Credit unions can choose to outsource all or part of their delinquencies to LSI, the company said, adding that its service is a "proactive solution designed to significantly improve the collections operations and overall bottom line of participating financial institutions without the added investment in staff, time, training and resources."
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Based in Elgin, Ill., LSI said it now provides call center and consulting services to more than 300 credit unions, banks and mortgage companies.
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