A few members in our chapter believe we shouldn pay for a third-party collection service, because it is the treasurers job to handle chapter payment collections. Are they right?
Collecting money is only a small part of a chapter financial officer’s overall responsibility. We believe it is every officer’s duty to investigate all methods to improve the chapter’s operations, including member payment collections. There are inherent problems with chapter treasurers having to collect money from friends, and it is unreasonable to place the responsibility of collecting tens or hundreds of thousands of dollars in chapter payments on the treasurer alone. Many chapters realize it is in their best financial interest to invest in the chapter’s financial health by using a third-party service. In almost all cases, chapters experience a financial gain from using the Greek Collections service due to the efficiency of our Automated Recurring Collection (ARC) system, reduced service fee, and our full-time staff dedicated to helping each chapter.
