Alaska USA Federal Credit Union Gains Efficiencies with RECOVERY

Alaska USA federal credit union

Alaska USA Federal Credit Union Implements Spectrum RECOVERY

CLIENT: Alaska USA Federal Credit Union
Alaska USA Federal Credit Union is a not-for-profit, member-owned, financial services cooperative providing service to more than 310,000 members. Alaska USA is one of the largest federal credit unions in the U.S. and the primary provider of consumer credit in Alaska.

NEED: A Powerful Collection and Recovery System
Selecting and implementing a feature-rich collection and recovery system was critical to Alaska USA due to increased lending volume (1 million accounts and transactions going through the system every night) and corresponding collections needs. The credit union wanted a system to exchange debtor data across product lines and perform analytical decision-making, while giving them a 360 degree view of their clients. The software had to handle pre- and post-charge-off accounts, and have both internal and external empirical scorecard capabilities to determine dollars at risk and assign accounts appropriately to individual collectors or strategies.

SOLUTION: SPECTRUM RECOVERY
Shaw Systems teamed with Alaska USA to configure the system and map data from multiple source systems. While these were very complex exercises because of the diversity of Alaska USA’s portfolio and because of a number of custom requirements, the two organizations worked together to reach this milestone. The resulting product is a powerful and revolutionary solution that will help Alaska USA achieve their goals of reducing costs and managing all phases of their collections and recovery processes.

RESULT: Success!
Relationship Manager Raleigh deShazo said, “As a result of implementing Spectrum RECOVERY, Alaska USA has begun gaining more efficiencies and consistency as they utilize powerful checklist and workflow capabilities.”