California League Signs Deal For LoanCharge-Offs

March 27, 2006, 1:00 a.m. EST 1 Min Read

RANCHO CUCAMONGA, Calif. - (03/27/06) The California CU League saidFriday it has contracted with Receivable Acquisition &Management Corp. to create a channel for its California and Nevadacredit union members to sell charged-off, non-performing loans.RAMCO, based in New York, will provide large-scale purchases andsales for the credit unions the two states. RAMCO is flexible inreceiving documents in various electronic or paper formats andprovides services to ensure the portfolio is ready for sale byeliminating accounts that are not collectable of out ofstatute.

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