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The partnership is one of mutual respect, and mutual benefits... Experian in my opinion is delivering products and services that help us protect and serve our members better.

Cary Shumway

Director of Collections, Arizona Federal Credit Union

Recovery ScoreSM

Identify which accounts show the greatest potential for recovery.

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Vision - Arizona Federal Credit Union

Cary Shumway, Director of Collections

Arizona Federal Credit Union

Describe Your Role and Responsibilities.

I'm the Director of Collections.  My role is overseeing bankruptcy, reposession, foreclosure, negative shares and general loan collections.

What are Some of Your Biggest Challenges?

Arizona is a sand state, and we've seen our fair share of, more than our fair share of foreclosures. And, we've seen more than our fair share of the downturn in the economy. And, as a result, we've had higher than unusual delinquencies, and we've had to focus and use products and services that help us lower that delinquency.

Which Experian Solutions Have You Implemented?

A couple of the Experian products that we use  – we order a QuestSM file, and we found ways to cross functionally use the data within that file to help a collector to know exactly where the member calling on the phone, where they’re at. And, if the member says, ‘oh, this is just an oversight’ or ‘this is just a temporary issue’, we’re able to look at current scores, previous scores and attributes on their credit report within our system and say, you know, I’m seeing something on here that leads me to believe something different. And, that prompts the collector to ask different types of questions of the member to try and dig a little bit deeper to get to the bottom of the real story.

We have experience with Recovery ScoreSM in the different products we’ve used.  We actually saw a 10% increase in our promised kept ratio for our post-charge-off process by prioritizing our accounts using Recovery Score. And that was really meaningful because it allowed us to put specific treatment strategies on different score bands to help us to decide where to spend our effort or not to spend our efforts.

Why Did You Choose to Work With Experian?

I may not have mentioned it, but I am the President of the Arizona Credit Union Collectors Counsel. Experian participates and is a member of our counsel. And Experian probably about once a year comes out, and our Account Executives or some of the other folks on staff come out, and they help teach all of the Credit Unions that are members of our counsel current trends, what’s going on in the industry and any products or services that might exist. So, I do see Experian coming out and participating with the Credit Union market, most notably here in Arizona.

I’ve worked for the Arizona Federal Credit Union for 13 years. And, the entire 13 years that I’ve worked for Arizona Federal Credit Union we’ve worked with Experian. Most notably the last ten years have been specifically, directly, with the Account Executive directly on strategy.

The partnership is one of mutual respect, and mutual benefits. We both care about, they care about us and we care about our members. Experian in my opinion is delivering products and services that help us protect and serve our members better. 

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