Press Release

Contact:
Elizabeth Sagehorn, Director of Marketing
888-447-0324 x-210
sagehorne@solutionsinfinance.com

Mike Lawson, DML Communications
760-845-8146
dmlcomm@gmail.com

Solutions in Finance Creates Tiered Services to Better Serve CUs’ Unique Needs

Los Gatos, CA – August 4, 2009 – While the rest of the business world is facing serious financial challenges, there is one firm that is seeing a tremendous increase in the demand for its collection consulting services. Solutions in Finance, Inc., a Los Gatos, CA based, lending and collection consulting firm, is showing credit unions how not only to survive but thrive with a new tiered services program.

“As we have seen in the financial services landscape, organizations that refuse, or don’t know how, to adapt to the changing times won’t survive very long,” says Bill Garcia, CEO of Solutions in Finance. “Those financial institutions that learn how to correct their mistakes quickly will be the ones that come out of this stronger.”

To meet the increasing demand for their expertise, Solutions in Finance (SIF) is offering a wider variety of services through a tiered program so that more financial institutions can learn how to make the changes they need. “More credit unions than ever need our expertise,” notes Garcia, “but not all of them need a full-court press.

“The industry is experiencing some challenges right now,” he continues. “We are in a unique position to make a substantial impact on the health of the 1,100-plus credit unions that have a delinquency rate of one percent or higher.”

Because demand for its consulting is so strong nationwide, SIF has expanded its staff and is offering new levels of service that will allow them to help multiple credit unions all over the country simultaneously. This new five-tier service model will allow SIF to serve the many clients who need their expertise the most.

Tier-1 consulting is for financial firms that need help immediately. SIF rushes onsite and immediately analyzes the situation, makes recommendations and assists in managing the implementation process. This service is designed for credit unions of all asset sizes that are in need of an instant turnaround. SIF stays on-site for as long as it takes, and ensures that the team they leave behind is ready to maintain the traction that the analysts have created.

Tier-2 is an extensive on-site audit by SIF’s analyst(s). The result is a 15-point, comprehensive findings and recommendations document reinforcing best practices and detailing areas that need improvement, and providing a roadmap for the credit union’s management to improve their lending or collection operation results and analytics.

Tier-3 consulting service includes a full onsite analysis of the lending or collection operation followed by a partial findings document and a full recommendation document.

Tier-4 is a lower-cost, off-site analysis. Analyst(s) will conduct a virtual audit, based on videoconferences and available reports. They will target the credit union’s problem areas and deliver the same in-depth analysis that has made Solutions in Finance the nation’s leading turnaround company.

Tier-5 is remote, off-site consulting with limited documentation – an ideal way for a credit union to get their lending or collection department started in the turnaround process.

“By offering a wider variety of services, we can better serve our new and existing clients,” Garcia says.

Solutions in Finance, Inc. is a Los Gatos, CA-based consulting firm that provides services for financial institutions in business lending, 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 and charge offs, and increasing charge off recoveries.