Client Voices: Weathering Financial Storms
Allied Solutions’ Southern Region Senior Vice President Mark Rodriguez recently sat down with three members of the company’s Advisory Board for a panel discussion on current financial headwinds. Joining him were Allan Prindle, CEO of Power Financial Credit Union; Brian Best, CEO of GTE Financial; and Mike Miller, CEO of iThink Financial Credit Union.
Each shared how their institution is responding to today’s most pressing challenges.
Delinquency Trends Are Shifting Recovery Strategies
Repossession agents are overwhelmed due to both a staffing shortage and a spike in volume. Credit unions are responding by starting recovery efforts earlier to mitigate losses. The panelists agreed that proactively locating repossessed vehicles can significantly shorten recovery time and reduce long-term impact.
Technology Should Enhance Human-Centered Financial Support
The panelists emphasized the importance of keeping the “people helping people” mission at the core of technology strategies. Tactics include:
- Seamless data integration across systems
- Personalized views of financial behavior
- Proactive communication, especially via text
- Clear updates on payment risks
- Flexible payment options
- Compassionate delinquency conversations
It’s all about enabling humans with technology that meets the members' needs, exactly where they are on their journey. Allan Prindle summarized it well, saying, "It’s all about digital when you want it. Human when you need it.”
Loan Growth Requires Operational Shifts and Creative Offers
Fewer originations have prompted credit unions to reallocate resources from lending to collections while also exploring new member incentives. Strategies mentioned include bundling products, providing instant offers, and offering quantity-based pricing discounts.
A Growth-Focused Culture Attracts and Retains Talent
The CEOs agreed: building a culture that nurtures growth is key to retention. This includes helping employees identify aspirational roles and then offering clear development paths, mentorship, and support. Downtime is also used to cross-train and broaden skill sets, keeping teams agile and engaged.
Partnerships Are Built on Shared Goals and Expertise
A true partner helps credit unions fulfill their mission. “When Allied comes to the table, they have a defined and accurate service that is going to help out our credit union and our membership,” said Best. Miller added, “It’s not a numbers game. You bring value because of the relationship, and Allied has the expertise behind the relationship.”
Whether facing a deposit drought, staffing disruption, or lending slowdown, credit unions continue to adapt with the help of strong teams, efficient systems, and trusted partners.
About the Allied Solutions Advisory Board
Allied Solutions’ Advisory Board is made up of respected industry leaders who help amplify the collective voice and mission of credit unions nationwide. Their insights serve as a guiding force in shaping the recovery solutions we bring to market.