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Key Takeaways
Multifaceted Communication: A multifaceted communication approach is crucial for relationship building in collections.
Empathetic Evolution: The collections industry is evolving toward a more empathetic and personalised touch.
Human Element: Maintaining a strong human element in communications is essential, even as digital methods become more prevalent.
Community Leverage: Credit unions can leverage their close-knit community atmosphere to foster deeper member relationships.
Personalised Solutions: Understanding a member’s full background aids in providing personalised solutions during tough financial times.
Cohesive Objectives: Aligning objectives across all departments is vital for delivering cohesive member experiences.
Accessibility of Platforms: The accessibility and user-friendliness of payment platforms are key to reducing friction in collections.
Empathy in Recovery: Empathy should be a fundamental component of member inter...
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