What do you think sets a struggling collections team apart from a high-performing one?
Hint: it’s not luck.

Outdated tactics like letters and endless dials slow you down and frustrate members. The real shift happens when you bring in a reliable credit union collections solution built for speed and scale. 

Suddenly, those “hard-to-reach” members are replying to texts, payments are completed with a single tap, and your agents aren’t buried in repetitive tasks. Instead, they’re focused where it matters most, on the accounts that truly need a human touch.

What’s the difference? Speed, insight, and connection.

High-performing collections teams don’t rely on guesswork; they measure, act, and connect. They track the right KPIs (Key Performance Indicators) to see what’s working, what’s not, and where their focus should be. But even the best KPIs are only powerful if your team has the tools to act on them efficiently. 

Here’s how your most important collections KPIs become smarter, faster, and more human with Eltropy Texting and AI-powered payments & collections platform.

Time to First Contact

From “missed payment” to “we’re in touch” – quick and easy.

Time to First Contact (TTFC) is a critical metric that measures how swiftly credit unions connect with members after a missed payment.

Manually monitoring every account isn’t feasible, especially with the rise in delinquent accounts and limited collections staff. Without the right tools, you can miss that all-important first contact, which leads to higher risk and longer recovery times.

Eltropy’s Solution

• Zero Delay Communication: Automated reminders ensure contact with members on Day 1, with timely, consistent follow-ups at pre-defined intervals to keep communication flowing.
• Smart Escalation: Accounts flagged as high-risk are escalated for manual intervention, ensuring priority cases receive the attention they need.
• Efficiency at Scale: 1:Many messaging lets you send targeted communications to multiple members based on their delinquency status, improving outreach while reducing operational costs.

Response Rate

Response rates measure the percentage of members who respond to your outreach attempts, a critical measure of engagement for credit unions.

Many members hesitate to engage and respond. They may feel embarrassed about financial struggles, genuinely lack the resources to make payments, or simply have no time. You need to make it convenient and comfortable for the members to communicate and respond.

Eltropy’s Solution

• Actionable Messaging: Automated, personalized messages deliver relevant information at the right time, boosting the chances of a response.
• Effortless Conversations: Two-way communication enables members to easily reply, ask questions, or request flexible payment plans, leading to meaningful interactions and better response rates.
• Convenience at Their Fingertips: Texting and emails, a preferred, non-intrusive method for many, ensures you meet members where they are and they can respond quickly, anytime, anywhere.

Recovery Rate

Text. Nudge. Collect. Repeat.

The recovery rate is the percentage of delinquent debt that is successfully recovered.

For many credit unions and community banks, traditional collection methods just aren’t cutting it anymore. Phone calls? Too easy to ignore. Letters? They often get lost in inboxes. This leaves credit unions scrambling to connect with members and recover debts on time.

Eltropy’s Solution

• Reach More Members: These text alerts are set up based on pre-defined trigger rules and delinquency buckets, so you can effectively reach out to more than one member at a time – to do more collections with less effort.
• Effortless, Quick Payments: Prioritize making the payment process easy and quick. With Eltropy, you can securely add payment links directly in texts, allowing members to settle their debts instantly and avoid delinquency – no matter where they are.
• Member Support: In case your members are facing a tough financial time, Eltropy payment system also offers flexible repayment options and multiple methods of payment, to help members pay on their on terms and improve recovery rates.

Collections Efficiency (Calls per Hour/Contacts per Day)

Scale your outreach and reduce the effort.

Collections Efficiency is the number of contacts a collections agent can make per hour or day.

Traditional collections calls limit outreach – they’re one-on-one and time-consuming, limiting the number of members agents can reach daily. This is neither a scalable approach and agents often end up draining their energy and time, especially when it can be automated efficiently. 

Eltropy Solution: 

• Scalable Campaigns: Automated text campaigns allow agents to reach multiple members simultaneously in the time it would take for one phone call. You can easily scale these campaigns, helping you hit your daily targets without burnout. 
• Faster Outreach: Automated reminders ensure you reach a group of members directly where they are, and get the message across, improving the efficiency for the agents, with follow-ups at pre-defined intervals.

Time to Resolution

Faster responses, faster resolutions.

Time to Resolution measures the average time to resolve a delinquent account.

Manually calling each member to remind them of the repayment takes up a lot of time for collections teams. While some members may find it difficult to navigate complex payment portals, long wait times for support queues only add to the frustration. The long list of compliance requirements further adds more pressure, making the entire resolution process slower and more cumbersome.

Eltropy’s Solution 

• Reach More Members Directly: Texting offers a convenient and private way to engage with members, encouraging quicker responses, no matter where they are. This not only speeds up interactions but also reduces the agent workload by eliminating the need for repeated follow-ups.
• Reduce Technical Bottlenecks: Embedded secure payment links let members settle dues immediately – in just a few clicks. Make it easier for members to navigate the complicated payment portals, reducing the processing time.
• One-on-One Member Support: With co-browsing, you can see what they see on screen and walk them through the loan terms, payment process, repayment plans, flexible payment schedules, late payment penalties, and so much more in real-time, to ensure they don’t miss a step.
• Uninterrupted Conversations Across Channels: One-click transition from text sessions to voice calls to efficiently address complex concerns, avoiding wait times and resolving concerns in one interaction.

Modernize your Collections Process with Eltropy

Setting clear targets and measuring performance against well-defined KPIs is crucial for any collections team striving for success. However, without the right strategy in place, even the best metrics can’t drive meaningful progress. You need the right tools to make informed decisions and implement effective strategies that continuously optimize your collections efforts.

With Eltropy AI-powered Collections, optimizing your KPIs is no longer a challenge; it’s a strategic advantage. With best-in-class communication tools, AI-driven insights, and flexible payment options, we deliver tangible value for your collections team to do more with less while maintaining dignity and nurturing positive member relationships that matter the most.

So, if you’re ready to hit your KPIs with precision and turn collections into a powerful engine for building lasting member loyalty, Eltropy is your partner in success, guaranteed. Talk to our experts today!