Collection Council Meeting

Sep 16, 2014 - Sep 16, 2014 9:00 am - 12:00 pm Location: League Office

Please Note Earlier Start Time!

Repossessions & Remarketing -

The process of repossessing vehicles continues to present credit unions with high levels of loss and litigation risks. It is critical to know and understand the steps to help mitigate these risks. Making mistakes in the repossession process can be costly, therefore, this session will provide the proper procedures to reduce losses and avoid liability.

The session will cover:

  • The importance of policy, procedures and proper underwriting;
  • Proper lien recording;
  • The early stage collection process;
  • Decision making skills (When to pick up the vehicle?);
  • Required notices;
  • Choosing the right repossession agent;
  • Redemption;
  • Selling the vehicle (Auction vs. Remarketing);
  • The deficiency balance; and
  • Continued collection efforts.

Presented by: André Lucas, Compliance Director at the MD & D.C. CU Association

André began his career in the financial industry as a Loan Officer/Collector with American Finance Company in 1977. He quickly became recognized for his strong ability to collect face-to-face and recover collateral. André is actively involved in consulting with affiliated credit unions on operations issues, policies and procedure development, and federal and state compliance issues. He holds CUNA’s Certified Credit Union Compliance Expert (CUCE) and BSA Compliance Specialist (BSACS) designations.

 

Lunch Provided.

Free for 2014 Council Members

$100 non Council Members

Registration deadline: Sept. 9

Registration Form