BCU Simplifies The Collections Process

BCU (Baxter Credit Union), a top 100 credit union serving more than 340,000 members across the United States, needed a way to make the collection process more efficient and accessible to their members. The award-winning credit union added virtual, self-service options as part of the ACI Speedpay solution to provide members with an easy way to set up payment arrangements.

The Challenge

BCU’s rapid member growth rates resulted in an increase in the number of members with past-due loans. The credit union wanted to avoid adding staff to handle the increased volume and instead sought an online, mobile-friendly scalable solution for members to resolve delinquencies in a non-confrontational manner.

The Solution

The credit union worked with ACI Worldwide to implement ACI Virtual Collection Agent, integrating the solution with their existing online banking and collection servicing solutions. These integrations ensure consistent, compliant interactions with members, whether with a human or virtual collection agent.

• The credit union created trigger-based email and SMS campaigns to prompt delinquent members to log into the site to make payment arrangements
• BCU also developed a dynamic, single sign-on to their online banking platform that identifies members with past-due loans eligible for self-service payment arrangements and directs them to ACI’s virtual collection agent
• The credit union has collected more than $1.1 million in past-due payments in the past year without hiring additional staff

The Results

The integrated solution ensures a consistent, compliant collection experience, whether members interact with one of the credit union’s live collectors or the ACI Virtual Collection Agent. The credit union was able to successfully manage the rapid growth in members and past due loans, as the intuitive solution works behind the scenes to guide members through the financial background and payment arrangement process in a non-confrontation manner at a time of their choosing.