Creditors Interchange Receivable Management Celebrates 50th Anniversary

Buffalo, NY – Creditors Interchange Receivable Management, LLC (Creditors Interchange), one of the nation’s largest privately held accounts receivable management firms, is pleased to announce that 2010 marks the 50th anniversary of the founding of the company. This achievement makes them one of the longest tenured agencies in the industry. An Employee Appreciation Luncheon and 50th Anniversary Celebration is taking place today at the Company’s facilities.

Creditors Interchange was established in Buffalo, New York in 1960, by its original founders, the late William G. Young and Thomas Faso, Sr., with the sole purpose of recovering past due medical accounts.

The company has seen more than a few changes over the last half century. Over its first 37 years Creditors Interchange grew to 35 employees and serviced a number of area hospitals, doctors, and local government contracts. In 1997 controlling interest in the Company was turned over to David G. Young and Thomas Faso, Jr.; both sons of the original founders. Over the next few years, Creditors Interchange continued to grow, adding both employees and offices. The client base grew as well, expanding from local hospitals and universities to some of the nation’s largest credit grantors and debt buyers. In 2003, ownership of the Company changed from the Young/Faso group to an investor group and management. The new entity was called Credint Holdings, LLC and the Company continues to operate as Creditors Interchange.

In reflecting on the company’s history, David G. Young, son of the late founder William G. Young, and current board member, commented, “My father would be proud of the legacy he created as I am sure Thomas Faso, Sr. is. We have had our ups and downs throughout the years but devotion to our employees and dedication to our clients has remained constant. I would like to thank everyone that has helped Creditors Interchange make it to this milestone and look forward to the next 50 years.”

For half a century, Creditors Interchange’s commitment and integrity to their clients has earned them a reputation for excellence. This commitment ensures a long and bright future for the company as they remain steadfast in their dedication to providing world-class service to their clients.

"Reaching this milestone in our company’s history is a true testament to our employees. Over the years, there have been countless individuals who have worked together to make this company the success it is today," stated Gary S. Holter, President and CEO. "Not only is this the time to acknowledge the accomplishments of the past, but also a time to look to the future. We consistently produce strong collection results for our clients and emphasize protection of their brand names. At the same time, we are focused on improving the caliber of our collection calls and quality of debtor payments that have become synonymous with the Creditors Interchange name.”

Creditors Interchange is based in Buffalo, New York and has 650 employees. They count as their clients many of the largest and most prestigious consumer credit grantors in the nation. Visit http://www.creditorsinterchange.com/ for more information about the company.