Hiway Federal Credit Union (Hiway), headquartered in Saint Paul, Minnesota had collection software which was being phased out, making it difficult for them to meet their collection needs. They needed a software program that would allow them to track many collection items, while still being user-friendly for their associates. As a credit union with more than $1 billion in assets, and over 69,000 members, Hiway offers a full array of financial products and services to meet their members’ ever-changing needs. Hiway’s associates are dedicated to improving the financial well-being of their members. They work to build lifelong partnerships by listening to, educating and empowering their members to help them reach their financial goals. With a large member base that has diverse needs, Hiway was looking for a real-time, user-friendly system with flexible queueing features and reporting capabilities.
Deciding on an Innovative Solution
By choosing the Temenos Infinity Collection module, Hiway experienced more accurate reporting and efficiency of queue completion.
”There were specific features of the Collection module that made us choose Temenos, such as the ability to create individual queues based on our collection practices and run reports specific to our credit union needs.”Cassandra Sandstrom, Collections Manager
Hiway has seen great improvement on their productivity and efficiency. When asked what advice they would give to other financial institutions evaluating their collection platform, Hiway recommended that they consider this collection software based on the accessibility to create specific queues, reports, screens, views and more, that meet each collectors individual collection needs and also meets the internal credit unions requests.
Related Success Stories
LBS Financial Credit Union, headquartered in Long Beach, California since 1935 with $1.3 billion in assets and 124,000 members, was seeking to improve their existing collection management system. Searching for…
Royal Credit Union (RCU), headquartered in Eau Claire, Wisconsin was struggling with a collection system that did not properly support their 27 branches. With assets of $1.7 billion and more…
Stanford Federal Credit Union’s consumer loan origination system was being discontinued, so the credit union needed a new solution that would enable it to evolve with the market. Based in…
Reduce delinquency, increase efficiency and boost collections efforts, all while streamlining internal processes and protecting income.