Buffalo Collection Agency Adding Collectors in Expansion

Buffalo, N.Y.-area collection agency American Coradius International (ACI) is planning to increase its workforce by nearly 40 percent as demand for its collection services has grown from existing clients and new contract wins.

The agency, based in Amherst and with an office in Hamburg – both in suburban Buffalo – plans to add some 50 workers to its payroll “very quickly,” according to CEO Brian Peek. The company currently employs around 90 people at the Amherst office and 40 in Hamburg.

Peek explained that demand from new clients is driving the hiring, although existing clients are also sending more business their way. ACI handles consumer collections in the mortgage, auto finance and credit card sectors.

“Mortgage collections, obviously, is growing,” Peek told insideARM. He said that ACI’s mortgage collections staff is very “seasoned and professional” and is handling a high volume of work right now.

Peek said that ACI can draw on the entire Buffalo metropolitan area labor pool, and even extend outside the region. He also indicated that there is room to grow at the locations.

“Right now, the Hamburg office is at full capacity, but we have the opportunity to expand within that building. Our Amherst office has unused capacity and we can place new employees there immediately,” he said.

The news on ACI comes as The New York Times recently chronicled the rise in importance of the accounts receivable management industry in providing jobs in Western New York (“New York Times Strikes Another Chord for Collectors,” March 21).

Peek also noted that ACI’s blend of clients, including major credit issuers and debt buyers, has sheltered it from problems. A good mix is important in the industry, said Peek, as an agency can take a major hit if its issuers sell off large portions of their debt portfolios, leaving the agency high and dry.

ACI may also consider evaluating opening new offices for the company in the near future, but Peek noted that those discussions are not even in the initial stage.