CBA and BenchMark 2000 Launch Credit Collections Study.ATLANTA--(BUSINESS WIRE)--Nov. 4, 1997--BenchMark 2000, a leading provider of benchmark programs and consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" for banks and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. organizations, and CBA See Capital Builder Account. , the leading industry association for the retail banking industry, announced today their collaboration on the 1998 CBA Credit Collections Study, where 59 lenders have provided data for analysis. "Bankruptcies are on the rise and loan delinquencies continue to be a growing problem in the industry so learning the most efficient ways to manage loan collections ultimately will help financial organizations improve their bottom-line," said Jim McGarvey, president of BenchMark 2000. "The CBA Credit Collections Study is the most comprehensive source of data on bank collection and recovery practices," said Joe Belew, president of CBA. "BenchMark 2000 has a strong track record for providing very valuable benchmarking analysis of the retail banking industry and they will substantially expand the scope and value of this study." This is the fourth year of the program which measures a variety of areas in a bank's collections and recovery departments that include: -- Organizational structure  This article has no lead section.To comply with Wikipedia's lead section guidelines, one should be written. of collection departments -- Use of the "profit center" concept and measurement of total collection expenses -- Staffing levels for collection and recovery departments -- Delinquencies -- Automation, such as power dialing and behavioral scoring -- Collection procedures, including number of accounts handled per collector, per day; -- Gross charge-offs -- Use of incentive pay in collection In last year's Credit Collections study, some of the findings showed an increase in collection department staffing, the effectiveness in automated recovery departments, and the wide support for local budget and credit counseling Credit counseling (known in the United Kingdom as debt counselling) is a process offering education to consumers about how to avoid incurring debts that cannot be repaid. This process is actually more debt counseling than a function of credit education. programs. Surveys for this year's study were sent to the CBA membership which includes commercial banks, bank-holding companies, savings banks savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. and savings and loan savings and loan n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. organizations, finance companies and credit unions. The Consumer Credit Collections study is scheduled to be available by December at a price of $175 for CBA members and $300 for non-members. BenchMark 2000, an Atlanta-based subsidiary of The McGarvey Ross Companies is the leading provider of process benchmarking and consulting services for banking and financial services organizations. BenchMark 2000 makes performance comparisons of multiple business processes for financial institutions participating in its various programs which include: consumer lending Consumer lending or consumer loans refers to any type of loan product that is not a mortgage; such as a car, boat, manufactured home, home equity loan, home equity line of credit, signature loan, signature line of credit, recreational vehicle, or Certificate of Deposit loans. ; indirect lending; commercial and small business banking; and community banking. The Consumer Bankers Association is the recognized voice on retail banking issues in the nation's capital. Member institutions are the leaders in consumer, auto, home equity and education finance, electronic retail delivery systems, privacy, fair lending, bank sales of investment products, small business services and community development. CBA was founded in 1919 to provide a progressive voice in the retail banking industry. CBA members hold more than 900 bank and thrift charters with total assets of more than $2.9 trillion. CONTACT: Stevi Barber Fritz Elmendorf Lorretta Gasper gasp·er n. Chiefly British Slang A cigarette. BenchMark 2000 CBA Wind Rose Communications 770-428-2487 703-276-3879 770-393-3350 windrosecomm@earthlink.net |
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