RELEASE DATE: AUGUST 16, 2021
DURATION: 60 MINUTES
Answering member’s questions can be daunting in this ever-changing field of personal finance. This course is designed to equip credit union employees to be able to cover the basic member questions. In Part 2, we will explore:
- Credit Repair: most credit-repair companies sell what members can do for themselves, at no cost, with some guidance. This first module will explore the credit repair industry and will highlight the difference between validation and dispute letters, how to correct an error on a credit report, and how to negotiate with collection companies for maximum credit impact.
- Debt Settlement: Debt settlement is an area of financial repair that is shrouded in mystery. Most people have heard stories about how someone they know settled their debt for pennies on the dollar. However, very few people seem to know if his is a legit industry. In this module we will explore the facts behind the industry and explain some common myths and truths.
- Debt Management Plans (DMP): Misinformation about DMPs and their legitimacy is abundant. In this module we will discuss how to know if you member needs a DMP, how to find the right DMP provider, DMP advantages and disadvantages, and how to prepare a member for their first call to the DMP provider.
- Rapid Rescoring: What is it? How does it work? Who should use it?
MEET THE PRESENTERS
Cynthia Campbell is the Chief Experience Officer (CXO) for BALANCE, a national non-profit that delivers financial education and counseling to consumers. Cynthia is a strategist, a corporate communicator, a project executor, and oversees Financial and Housing Coaching, Marketing, Training, and HR departments for BALANCE. Cynthia previously served as a VP of Innovation and Strategy at Oklahoma Central Credit Union, Director of Innovation Labs at the Filene Research institute, and VP of Financial Empowerment at Tinker Federal Credit Union. Her entire career has been focused on financial health with a particular focus on the under-resourced. Cynthia holds a BS in Business Administration and an MBA from Elmhurst College in Illinois, and a master’s degree in Adult Education from the University of Central Oklahoma. Cynthia is part of the Global Women Leadership Network and is a Credit Union Development Educator (CUDE).
Tina Herndon is the Financial Education and Training Manager for BALANCE. For over a decade she managed three non-profit alternative lending programs for the Citizen Potawatomi Community Development Corp. (CPCDC). There was 1:1 financial counseling performed before closing each of those 500 loans a year. As a result of being an experienced counselor, Tina is frequently asked to teach a wide variety of financial topics to diverse demographics. She has served on the board of directors for several financial literacy and poverty-aid organizations. Currently she is the Vice-President of the Oklahoma Jump$tart Coalition and a founding board member of the Society of Financial and Career Consulting Professionals. Tina holds a Bachelor of Science, in Business Administration, St. Gregory’s University. She also serves as an instructor for the National Association of Certified Credit Counselors (NACCC).