Configuring Tools for Collections Guide

This guide provides detailed instructions for configuring various CBX tools to establish an effective collections team within credit unions. It emphasizes the importance of involving all staff members, from the CEO to front-line employees, in the collections process. The guide outlines the roles of different team members, including Collectors, Collections Managers, and Loan Officers, and highlights the significance of communication and teamwork in managing loan collections. Additionally, it discusses the necessary tools and features available for the collections team, such as member inquiries, trackers for delinquency, and the configuration of delinquency fines and notices. The document aims to ensure that credit unions can effectively manage delinquency and enhance their collections strategy by utilizing the appropriate tools and processes. By following the guidelines provided, credit unions can improve their collections efforts and minimize loan losses.