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Northwest FCU Cuts Delinquencies, Costs With E-Mails

Facing rising delinquencies but not wanting to increase costs by hiring more collections staff, Northwest Federal Credit Union came up with a high-tech solution.

By Lindsey Siegriest | Updated on October 06, 2009

Facing rising delinquencies but not wanting to increase costs by hiring more collections staff, Northwest Federal Credit Union came up with a high-tech solution.

The Chantilly, Va.-based $1.8 billion credit union teamed up with digital communications provider, DigitalMailer, to develop a system that would replace some collection phone calls and late notices with e-mails. Northwest’s collection’s staff was making phone calls to members that had delinquent accounts at the 15-day past due mark. With the DigitalMailer system, the credit union started sending e-mails to members at the five-day mark.

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