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CU Recovery Plus – The credit union repossession services solution
Credit unions of all sizes can now enjoy the same recovery results and compliance levels as the nation’s largest lenders.
ALS Resolvion, the nations’ leading CFPB compliant repossession forwarding, skip tracing and license plate recognition LPR) staging technology leader, has been providing best in the industry scorecards and results for the biggest lenders in the auto finance industry for many years. With the addition of ALS Resolvion’s new CU Recovery Plus program, the credit union industry now has the opportunity to employ the same repossession strategies, compliance levels and recovery benefits as the biggest lenders in the world.
Many credit unions prefer to maintain their direct relationships with their local repossession companies, and we completely understand that. CU Recovery Plus is purposefully positioned to serve as a supplement to your existing processes and relationships, not a replacement. This strategy provides the opportunity for credit unions to take advantage of the additional 7-25% increase in repossession recovery rates achieved by also deploying LPR and/or skip services. While full repossession management is also offered, CU Recovery Plus allows credit unions to decide when to use these services and which ones.
“Our new hybrid, ala carte, program allows credit unions of all sizes to easily integrate our best in industry compliance programs and technology based recovery solutions into their existing direct recovery agent processes while minimizing departmental interruption.” Kevin Armstrong, Credit Union Market Director.
Every credit union knows that there is nothing more litigiously dangerous to their organization than the potential issues that can arise during a repossession or even after. Their reputations and careers can be at risk on any given day. By engaging in ALS Resolvion’s network of over 750 professional, fully vetted, contracted and internally managed repossession agents operating in all 50 states, the risk of hiring unknown or out of state and out of area repossession agencies is eliminated and they can rest assured that their repossession processes is CFPB compliant.