Investment in financial health is crucial for both credit unions and banks. These institutions, while sharing the goal of financial stability, operate with distinct philosophies. Credit unions, member-owned and community-focused, prioritize trust and service. Banks, often larger and more geographically diverse, strive for efficiency and broad customer reach. Both face unique challenges in managing delinquent accounts, requiring specialized recovery strategies.
As a people-centric company, with laser-focus on tailored financial recovery, Cedar Financial prioritizes enduring relationships while developing recovery strategies that sustain financial health for both credit unions and banks.
Our approach is designed to handle the unique challenges of each sector, requiring assertive recovery strategies coupled with compassionate interactions with members and customers to sustain success and growth.
The road to financial recovery for members is in consistent communication and collaboration between members and unions, and we bridge that gap with our extended experience in credit collections.
We understand the importance of maintaining positive relationships. Our communication strategies are tailored to each institution’s specific brand and values, ensuring respectful and empathetic interactions with members and customers.
We are cognizant of various customer circumstances, with everyone dealing with different financials situations. We offer a range of flexible payment options to accommodate individual financial circumstances, making it easier for members and customers to resolve their delinquencies. This includes online portals, payment plans, and personalized support.
We recognize that one size does not fit all. We work closely with each institution to develop customized recovery plans that align with their specific goals, risk tolerance, and operational needs.
We leverage cutting-edge technology and data analytics to optimize recovery processes, improve efficiency, and maximize returns. This includes predictive modeling, automated workflows, and real-time reporting.
We adhere to the highest standards of compliance and data security, ensuring that all recovery activities are conducted ethically and within regulatory guidelines. This is especially critical in the highly regulated financial sector.
We can act as an extension of your team, keeping your brand name on the forefront (first party) or manage the entire process (third-party) freeing your stress of collections, depending on your needs.
We provide real-time access to performance data and comprehensive reporting, giving you full visibility into the recovery process and its effectiveness.
Just like preventative maintenance saves time and money, early intervention in delinquent accounts is crucial. Cedar Financial’s programs are designed to engage members and customers as soon as accounts become past due, increasing the likelihood of successful resolution and minimizing losses.
Prompt action on aging claims is essential for maximizing recovery rates. Early intervention not only improves financial outcomes but also preserves relationships with members and customers. With community strengthening at the core of credit collections, we ensure you retain your greatest asset, your customers.
Litigation Services
While we strive to resolve delinquencies amicably, sometimes legal action is necessary. Cedar Financial has a network of experienced attorneys across all 50 states specializing in debt recovery. We can manage litigation and judgment proceedings when required, ensuring compliance with all applicable laws and regulations. We work diligently to protect your interests and recover outstanding balances with assertive but strategic negotiations to coax elusive customers to pay.
Customized Communication
We treat every interaction with respect and understanding. Our agents are trained to listen empathetically and find solutions that work for both the institution and the members.
Omnichannel Communication
Members want to maintain discreetness and would have varying preferences of how they interact with collection experts. We offer multiple channels for communication, including phone, email, text, and online portals, allowing members and customers to choose the method that allows for convenient recovery.
Multiple Payment Options
We provide a variety of convenient payment options, making it easy for members and customers to fulfill their obligations without feeling limited in their payment options.
Transparency differentiates between a debt recovery process that fuels growth and one that sours customer relationships forever. In utility debt collection, we ensure robust processes that develop clear communication between you and your customers.
Local and National Reach
We have a broad network of resources and expertise to handle delinquent accounts wherever your members or customers are located. Our competency in international debt collection ensures we get you paid, beyond borders.
Complete Transparency
We provide 24/7 access to account information and performance data, giving you complete visibility into the recovery process through our all-in-one portal for easy access and visibility.
Compliance as a Foundation for Success
Compliance is paramount in the financial industry. We maintain rigorous compliance standards, adhering to all relevant regulations and guidelines. This protects both the institutions and their members, ensuring ethical and responsible recovery practices.
Cedar Financial is committed to helping credit unions and banks achieve long-term financial health. Our tailored solutions are designed to strengthen relationships, improve efficiency, and maximize returns.
We offer on-the-ground representatives in your customer’s location who understand the practices that work to support full recovery of your funds.
