CU Recovery, a PSCU company, has teamed with DCM Services, LLC, which provides data and contact management solutions for the estate and specialty receivables recovery space, according to a Tuesday (June 8) announcement emailed to PYMNTS.
The partnership “grew organically from a synergistic relationship” between the two organizations during the last many years. It will help credit unions (CUs) throughout the country as the two organizations bring together their knowledge in the accounts receivable management (ARM) sector, according to the announcement.
“This partnership provides an additional depth of experience and knowledge that creates a win-win for our clients,” Wendy Elieff, senior vice president, client service and marketing, CU Recovery & The Loan Service Center, said in the announcement. “We look forward to working alongside DCMS to proactively increase recoveries on accounts.”
CU Recovery will bolster its collections efficacy by allowing CUs to add further services, harnessing DCMS’ systems to bolster recoveries on probate inventory in addition to non-probate inventory. Furthermore, DCMS will offer its “survivor-sensitive approach” to bolster the “survivor experience of its customers.”
“DCMS is very pleased to partner with CU Recovery to provide a much needed recovery tool for the credit union space,” DCMS CEO Tim Bauer said in the announcement. “While our two companies each offer very specialized services, our partnership will be mutually beneficial for our credit union clients.”
The news comes as CU Recovery said in April that it had collected a record $3 million in charged-off debt in March for its 850-plus credit union clients.
CU Recovery serves as a “full-service collection agency,” which works with non-performing and charged-off loans. The organization offers a collection of third-party collection services. It has worked with more than 2,700 CUs throughout the country as of 1990. PSCU supports 1,500 CUs representing over 5.4 billion transactions yearly, according to the announcement.