White Paper: Turning the Tide - Managing Troubled Portfolios
Tags: Consumer Information, Credit Unions, Customer Management
The economy may be recovering and the credit picture improving, but lending institutions still find themselves coping with some troubled portfolios. Plus, they always need to be prepared to identify high-risk accounts.
In 2008, Arizona Federal Credit Union, not unlike many lending institutions, found itself with a money-losing portfolio. While it had solid reserves to weather the storm, it still found itself on the 'bleeding edge' of the financial crisis. As its deteriorating situation became very clear to Arizona Federal, business as usual couldn't continue.