Best practices for managing delinquency in uncertain times

Now more than ever, the credit union philosophy of “people helping people” is critical to maintaining member loyalty and trust in their biggest time of need. While the COVID-19 pandemic has left us all experiencing disruption and uncertainty, credit unions are in a unique position to provide members with financial reassurance and support in navigating our new reality.

By employing some of these best practices for successful delinquency management, you can help your credit union build strong member relationships, both during this crisis and in the long term.

Prepare an Action Plan

Credit unions must first develop a crisis management strategy or response plan. Credit union leaders should begin by asking themselves the following questions:


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