Peregrin’s CARD Act Solution; Achieve Full Compliance in Days

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Peregrin provides low cost CARD Act toll free solutions that save more for credit unions over limited, risky "free" offers.

By July 1, 2011 several hundred credit unions will be forced to sign a contract with their existing service provider to begin paying for their compliance services, which to this point had been free. Otherwise, they will need to find an alternative solution in order to remain compliant with the Federal Credit CARD Act of 2009, which states that creditors must include a toll free number on their billing statements for consumers to call to receive information about credit counseling.

Peregrin’s CARD Act toll free solution is the choice for credit unions nationwide looking to migrate to a less costly solution with all of the functionality they require. In a matter of days, customers can have a reliable, fully-functional, fully compliant toll free phone line.

“Our turnkey solution is not one size fits all,” says Mike Morency, president and CEO of Peregrin. “And our three tiered offering allows credit unions to find the solution that works for them, at a cost they can manage.”

Regardless of tier and price point, the CARD Act solution delivers a core of quality services: full compliance assurance, 24 by 7 redundant reliability, online reporting, quarterly reconciliations and professional customer service. The tiers allow for customization to suit specific needs and include options such as a phone fraud prevention tool, a professionally-recorded voice, custom message delivery, and seamless call transfer.

Credit unions want accountability and stability for the long term, from a vendor they can trust. They don’t want to find themselves forced to look again for services in the future, if companies now offering a free solution determine later that they cannot sustain a free pricing model.

The few free solutions available also do not rival the sophistication, comprehensiveness, and automation built into the Peregrin CARD Act toll free solution. As the leading provider of call management services to the credit counseling industry, Peregrin understands what credit unions need in their CARD Act solution. As a result, they spent their planning and testing time effectively to create the right, complete solution, at a price point that is proven sustainable.

Many credit unions are choosing the Peregrin Tier 1 option because of its low cost and full compliance, but just as important are its robust features and real time reporting options. Activation for any tier is simple and can be initiated on the Peregrin web site at http://www.peregrin.com/CUsignup.

Visit http://www.peregrin.com/cardactinfo to learn about the Peregrin Credit CARD Act toll free solution, which can be easily implemented prior to the July 1, 2011 deadline. It improves a consumer’s ability to obtain information about accessing credit counseling services while cost-effectively delivering a variety of reporting features to credit unions.

About Peregrin
Peregrin has been serving the credit counseling industry since 2000 and provides call management services and debt management plan automation for some of the largest credit card issuers in the nation.

Peregrin (http://www.peregrin.com) prides itself on its holistic approach to credit risk avoidance and compliance, with a complete suite of technology solutions and services for US-based lenders and credit counseling agencies of all sizes. Peregrin provides services and applications that help automate and improve process management. With the increased efficiency provided by these solutions, resources can be freed to help improve the performance and results of credit counseling and third party debt management.

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Christina Selle