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Martha Willson, Director of Client Services
888-447-0324 x114
marthaw@solutionsinfinance.com

Solutions in Finance Signs Three CUs to Leverage Collections Services

San Jose, CA - May 29, 2008 - Solutions in Finance Inc, a collections and lending operations consulting firm for credit unions nationwide, announces the addition of three new credit union clients to the company’s growing client list: Hudson Valley Federal Credit Union ($2.2 billion; 200,296 members; Poughkeepsie, NY), Premier America Credit Union ($1.3 billion; 67,597 members; Chatsworth, CA), and Bay Gulf Credit Union ($193 million; 22,562 members; Tampa, FL).

Bay Gulf Credit Union, for example, is leveraging Solution in Finance’s collection services by evaluating the credit union’s entire collection operation. The areas reviewed included the collection operational structure, collection process, collection strategies, staff skill levels, collector performance, collector productivity, and collection quality. A review was also conducted in the recovery area for repossessions, remarketing, foreclosure, and legal processes. Collection technology was also reviewed. As is the case with all collection projects Solutions in Finance focused on creating greater efficiencies within the department and better overall management reporting.

“We are extremely pleased to have partnered with Solutions in Finance to assess our collection operations,” says Bill DeMare, President/CEO of Bay Gulf Credit Union. “Their review was very detailed and thorough. We look forward to implementing their recommendations in all areas of our operation.”

Bill Garcia, President/CEO of Solutions in Finance states, “We are delighted to have partnered with these credit unions and assist them with their lending and collection operation, specifically in identifying and developing best practice applications to achieve their strategic goals.”

Solutions in Finance, Inc. is a San Jose, CA-based consulting firm that provides services for financial institutions in consumer lending, indirect lending, mortgage lending, and collection operations. The firm assists clients to create, improve, and maintain sound lending practices with overall superior credit quality. Collections operations best practices applications are introduced with new and improved strategies and processes, and a focus on decreasing delinquency, charge offs, and increasing charge off recoveries.