Cues Podcast

Even before the pandemic, credit unions were the most empathetic collectors around. While credit unions clearly need members to pay their loans and credit cards, they have always approached collections with an eye for helping the member through financial difficulty and educating them about personal finance.Enter the pandemic and many members were suddenly unemployed. Credit unions were on the financial front lines, working on ways to help, says Jeff Mortenson, VP/client services for the Financial Institution Group at CUES Supplier member SWBC, San Antonio, Texas. SWBC is the sponsor of this show.“They clearly understood up front that they need to figure out how to help their members,” Mortenson says in the show. But they quickly discovered that calling their members every couple of days wasn’t helping them. “So they took a step backwards … and said, “Wait a minute. What’s best for our memberships and how can we help them?’ …“They were proactive with it,” he adds. “Being proactive with it has been very success