Many small-business owners have undoubtedly heard about remote deposit capture. But incorporating those time-saving technologies into their small-business operations will have to wait—because these business owners are just too busy.
As both credit unions and members recover from the Great Recession, a thoughtful approach to strengthening collections makes it possible to find solutions for members, reclaim loan funds, and refine lending operations.
CUNA’s compliance staff was recently asked about a garnishment order for a member’s that receives federal benefits. The credit union determined the member did not have enough and the member asked the order be paid in full using those funds.