Peregrin™ Announces A CARD Act Toll Free Solution for Credit Unions That Is Less Costly, More Compliant and Fully Featured

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Credit unions have three service alternatives from Peregrin, the industry leader, that are easy to convert to and less costly than competitive alternatives.

Today Peregrin announced its CARD Act pricing structure, aimed at providing relief to credit unions searching for alternative solutions to comply with the Federal Credit CARD Act of 2009. The CARD Act requires credit unions, like other card-issuing creditors, to publish a toll-free number for information about accessing credit counseling services on their monthly statements.

“CARD Act Toll-Free compliance has been required since early 2010,” says Mike Morency, President and CEO of Peregrin. “With a recent decision by a toll-free provider to charge for its previously “free” solution, credit unions are looking for their best value alternatives. Peregrin not only offers a right-priced solution suitable for the special needs of credit unions, we offer so much more in terms of service and features.”

With custom toll free numbers and real-time online reporting, the Peregrin CARD Act toll free solution gives credit unions access to caller traffic, demographics, and behavior information. Peregrin’s extensive reporting allows credit unions to know their members’ needs in ways that may have been previously unavailable to them. All reporting information is available for viewing and exporting securely at any time through Peregrin’s secure website, by any credit union using Peregrin’s CARD Act solution.

With its high levels of built-in redundancy– redundant facilities and redundant services – the Peregrin platform delivers over 99.98% availability. Any risk of downtime is practically eliminated. And since the product is fully automated the result is even more a true low-cost solution.

Once a system is running, no customer maintenance is required. Peregrin has automated monitors and tools in place to maintain the continued responsiveness of all of their customer’s CARD Act toll-free lines. And with the availability of extensive audit information, customers can easily and promptly meet the yearly reconciliation requirements of their databases. To ensure continued compliance, Peregrin audits customers’ CARD Act toll-free lines four times per year.

Peregrin offers three tiers of pricing to satisfy the needs and cost constraints of any credit union. There are no setup fees, monthly fees are low, and migration from other platforms is simple and can occur in a matter of days.

By choosing from an extensive list of customizable features, credit unions can provide automated, relevant credit counseling service information to their members who call. They can customize prompts within the call flow to reflect the brand or image of their organization. And the available phone fraud prevention feature protects credit unions from over-frequent callers who may be abusing the line, which can drive up costs unexpectedly. Plus, Peregrin allows members to transfer back to the credit union itself. This allows credit unions to be able to offer their members in need of assistance any internal programs or tools available by their trained representatives.

Through a demo phone number, Peregrin offers prospects the ability to learn how the solution works, from both a consumer and credit union perspective. The Peregrin CARD Act solution is the right choice for credit unions looking for a cost-effective solution to enhance service delivery and comply with federal regulations.

For more information about Peregrin’s Credit CARD Act toll free solutions, the most cost-effective solution to provide consumers with the ability to obtain information about accessing credit counseling services while also delivering a variety of reporting features, visit: http://www.peregrinservices.com/html/2009CardAct.html.

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Christina Selle
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