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Credit Union Repossession Challenges and Solutions PowerPoint Presentation
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Credit Union Repossession Challenges and Solutions - PowerPoint PPT Presentation


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Credit Union Repossession Challenges and Solutions. Moderator Mark Rubino Senior Vice President. CREDIT UNION PANELISTS. Mary Hernandez Collection Administrator Pacific Oaks FCU Joel Bowen Loan Resolution Manager CalTech Employees FCU Susan Marshall Collection Manager Ventura County CU

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Presentation Transcript
credit union panelists
CREDIT UNION PANELISTS
  • Mary Hernandez Collection Administrator Pacific Oaks FCU
  • Joel Bowen Loan Resolution Manager CalTech Employees FCU
  • Susan Marshall Collection Manager Ventura County CU
  • Art Sookazian Director of Collections Xceed FCU
credit union repossession challenges and solutions
Credit Union Repossession Challenges and Solutions
  • Repossessions - The Choice is Yours:
    • Determining Factors:
      • Account DQ Status
      • Customer contact
      • Account Balance
      • Value of your collateral
  • Repossessions - The Choice is Made for You:
    • Voluntary surrenders
    • Bankruptcy
    • Impound
    • Lien Sale Notice
  • Notice of Intent
    • Local or Out of State
    • Balance and Fees
    • Eligibility Sale Date
credit union repossession challenges and solutions1
Credit Union Repossession Challenges and Solutions
  • Repossession Disposition
    • Storage: Fees ,Liability, and Depreciation
    • Selling at the Branch: Security, Liability, Depreciation, Limited Exposure
    • Consignment: Security, Depreciation, and Consignment Fees
    • Remarketing Co.: Fees, Control of Collateral Flooring, Out of State Repos
    • Auctions: Secure, Minimum Fees, Maximum Exposure, Total Control
  • Reconditioning
    • Reconditioning for retail sales is usually much more expensive
    • Improve appearance and the buyer’s perception of vehicle’s maintenance.
    • The buyer (dealer) will pay more since he does not have to take vehicle from place to place for repairs or detailing after purchase.
    • Additional Expense vs. Increased Sales Results