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"INVEST CREDIT CAPITAL” LLC concluded an agreement with "Garant" Credit Union on transferring the management of problematic assets

15.09.2015

September 15, 2015 an agreement on transferring the management of problematic assets worth about 1.3 mln. UAH was signed between "INVEST CREDIT CAPITAL” LLC and "Garant" Credit Union. The credit union had to resort to such a move, since managing arrears is a complex long and laborious process, which is not the company’s core business. For a Credit Union that cares about the quality of its loan portfolio and values relationships with bona fide members who want to continue using such useful tool as loans from the credit union, it is a matter of high importance to choose a reliable partner for transferring the management of problematic assets. "Garant" Credit Union found out that the methods of work with debtors used by "INVEST CREDIT CAPITAL” LLC not only would provide an opportunity to return the borrowed money, but would not allow retaining potential responsible members.

The Chairman of the "Garant" Credit Union Irina Dragomiretska, commenting on the deal, said: "We value respect for our members, even if they are debtors. We understand that most of them are people experiencing temporary financial difficulties. And in future we hope to see them among our trusted partners."

"INVEST CREDIT CAPITAL” LLC has huge experience in asset management including managing problematic assets. In 2015 the Company won the open competition, announced by the National Bank of Ukraine, for managing the unsold assets of PJSC "CB" Volodimirskiy" and JSC "Innovative Industrial Bank" left after the liquidation procedures were officially completed, receiving assets worth over 1.2 bln. UAH.

"Working with debtors of the credit union is going to be radically different from working with debtors of the liquidated banks. In contrast to a powerful banking institution where a client is no more than a first name, a middle name and details of a credit agreement, the credit union customers are personalized. Here we are to deal with the credit union, which for years has been forming its membership list, whose employees know literally everything about their borrowers and find themselves in a very painful situation, when a member of the union - for various reasons - due to objective or sometimes subjective circumstances – is unable to fulfill the commitments before the union - said the director of “INVEST CREDIT CAPITAL” LLS Nikolay Korolenko. - However, neither in work with bank debtors nor in work with troubled borrowers of the credit union, we should waive our basic principles. We are not one of the collector companies, which working methods led to recent appearance of the draft Law "On prohibition of collector services provision for fulfillment of individuals’ monetary obligations” at the Verkhovna Rada of Ukraine. The best way for us is implementation of mediation techniques, where we – having carefully studied the situation of a debtor, having heard his arguments, and understanding the position of a financial institution, - joint our efforts to find mutually acceptable and beneficial solutions. I am convinced that this approach is the future. It is important for a human to be respected in any situation, even in trouble. And the biggest valuable for any financial institution is its customer, while their trust is easy to lose and often becomes «mission impossible» to return."

Photo by Roman Chigrinets 

Tags: ІНВЕСТ КРЕДИТ КАПІТАЛ, INVEST CREDIT CAPITAL

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