Collection Agency for Credit Unions
The CMI Group is a top-tier collections agency for credit unions that understands the unique challenges that you face in managing delinquent accounts and recovering debts. For over three decades, we've developed strong relationships with each of our clients built on our superior recovery performance, world-class people, commitment to compliance, and insightful data analysis. Our collection methods are meticulously designed to maximize recoveries, preserve member relationships, and maintain the high reputation of your credit union in the community.
Relationships Matter
At CMI, we live by the motto, "Relationships Matter." This philosophy is manifest in our dedication to nurturing strong, collaborative relationships with each of our credit union clients. We adhere to the highest ethical standards and are committed to treating each of your members with respect, dignity, and fairness, ensuring your member relationships are upheld even in situations of financial difficulty. As your partner in collections, CMI helps safeguard your brand and minimize complaints giving careful consideration to your public image.
Innovative Recovery Solutions
We know that every credit union is different and that's why we offer tailored solutions to fit your specific needs and preferences. Our third-party collections services span from early primes to aged warehouse debt recovery stages. Each portfolio we handle receives a custom-tailored strategy that maximizes netback to your institution based on the unique characteristics of the accounts.
Data-Driven
We leverage state-of-the-art technology to streamline the debt recovery process. Our advanced analytics and proprietary algorithms enable us to identify the most effective strategies for contacting members and recovering debts. Our multidimensional account scoring model blends account attributes, member credit data, and contact disposition data throughout the lifecycle of the account. Our unique dynamic scoring model continually adjusts and refines portfolio strategies to drive results.
Omnichannel Outreach
We have made significant strides in our omnichannel communication capabilities, enabling us to reach members via SMS, email, physical mail, live voice, and self-service Interactive Voice Response (IVR). We have dedicated teams overseeing these alternative channels, each delivering unique expertise to maximize productivity.
The Competitive Edge: Our People
Our team of seasoned professionals is thoroughly trained in financial services collections, negotiations, and customer service. This expertise allows us to navigate complex scenarios and negotiate payment plans that are fair and achievable for your members, which ultimately helps improve your bottom line. Our collections specialists undergo specialized training on credit union products and services. They are also well-versed in relevant laws, regulations, and policies.
One standout feature that sets The CMI Group apart is our distinctive ownership structure. Our organization is wholly owned by its employees, meaning that our collection specialists earn a personal stake in CMI as they gain tenure and experience. This sense of shared ownership fosters great pride in the services we deliver and motivates our collectors to aim for the best result in every interaction.
Compliance and Security
We hold ourselves to the highest standards of compliance, adhering strictly to all laws and regulations, including the Fair Debt Collection Practices Act (FDCPA). Furthermore, we prioritize data security, utilizing top-tier encryption and security measures to safeguard your members' sensitive information.
CMI is accredited by the Better Business Bureau with an "A+" rating. We comply with all requisite data security laws, regulations, and standards, including GLBA, ISO 27002, Massachusetts 201 CMR 17.00, FTC Red Flags, Nevada Personal Information Law, NRS 603a compliance, and more. We also hold certifications for PCI-DSS v3.2 and SSAE18 SOC 1 and SOC 2 Type II, among others.
Performance Metrics
We pride ourselves on providing deep data insights to our clients. Our responsive, customizable, and forward-thinking reports deliver vital operational and financial data, empowering you to make informed business decisions. We believe in transparency and continuously strive for improvement, both in our recovery rates and in our service to you and your members.
Let’s Connect
At The CMI Group, we're not just a collection agency – we're a partner in your success. Trust us to manage your delinquent accounts while you focus on what you do best: serving your members and building a stronger credit union. Contact us today to learn more about our Collection Agency for Credit Unions solution and how we can help you improve your financial recovery efforts while preserving member relationships.
