The implementation and on-going administration of the CURE and Carfinders programs are extremely simple and straight forward. CURE handles most of the front-end program set-up; Credit Union provides space, employee availability for program introduction, and IT setup…no new forms are needed, no additional employees are needed.
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Establish CURE and Carfinders “Referral Queues.” |
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Arrange CU employee meeting (appropriate employees) for the introduction of CURE’s designated employee. During the meeting, CURE representative will present program overview and provide basic training on the program flow and dynamics. |
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If it is determined that a CURE employee will be needed at CU:
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Provide workspace for CURE employee to include phone, fax machine access,
computer, printer, network access and internet access. |
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Enroll CURE employee on CU payroll for minimal pay amount (suggested 5 hours per week at $10 per hour). This procedure eliminates issues arising from a non-CU employee accessing confidential member information, etc. Issue loan plan code or collateral code designation for tracking of CURE loans in CU system. |
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Provide training to CURE employee on CU’s internal loan system (CURE queue, etc.). |
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Encourage loan officers and employees to refer/transfer applications – approved and declined – into the appropriate queues. |
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Approve and introduce the CURE/Carfinders Referral Incentive Program to CU employees. |
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Provide network system access for the purpose of facilitating collection activities. The system access may be on-site or remote and the information accessed may be utilized by a CURE employee or by an approved, third-party collection agency. All appropriate agreements including non-disclosure and confidentiality agreements will be executed by the parties involved. |
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Designate CURE employee for the CU account and review program specifics with employee. |
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Establish loan loss reserve account. |
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Establish/modify loan underwriting criteria. |
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Distribute CURE loan materials to appropriate CU personnel. |
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Distribute CURE closing procedures and process flow to appropriate CU personnel. |
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Review collection procedures with senior management and distribute materials to CU and CURE personnel. |
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Stock necessary forms, office supplies, and the like. |
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Set hours of operation for CURE within CU guidelines. |
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Determine, in conjunction with CU, appropriate CURE employee access to building and systems (if CURE employee on site). |
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Develop internal, and if applicable, external, “marketing” (communication) plan for program. |
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