Oxford’s Security Credit Services acquires Commonwealth of Virginia based Jormandy
Published 8:56 am Wednesday, November 3, 2021
Security Credit Services, an Oxford based nationally known and trusted purchaser of both performing and non-performing receivables, announces its acquisition of Jormandy, LLC, based in Norfolk, Virginia.
Approaching its 19th year of service, SCS has purchased and managed more than $13 billion in asset receivables. SCS is owned by a privately held investment firm, EquiPro Holdings, also based in Oxford.
Jormandy, a purchaser and collector of receivables throughout the Commonwealth of Virginia, has always embraced the latest in software and technology available within the collection and debt buying industry, which emphasizes the company’s focus on compliance and operational efficiencies.
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The group is led by CEO Susan P. Becker who will be instrumental in the transitioning of leadership to Diane Manning, Jormandy’s lead attorney. Manning, along with team members from its existing staff will remain on board and continue to run its operations in Norfolk, Virginia working closely with SCS leadership.
“We are very excited to become part of the SCS family,” Becker. “We began our business relationship many years ago and it has continued to strengthen over the years based on our mutual goals and objectives throughout the industry. Jormandy has been involved in the industry for almost twenty-three years.
“We take pride in working with our consumers to reach the best possible resolution to their financial difficulties in a courteous and professional manner. Our company looks forward to joining Security Credit in continuing to meet these goals.”
“SCS and Jormandy have enjoyed a professional relationship that spans over a decade, which makes us extremely excited about welcoming Jormandy into the SCS family,” said Kaye Dreifuerst, president of Security Credit Services. “Both firms are award winning industry compliant and trusted which should integrate well into our existing structure. Security Credit Services will continue the Jormandy brand and VA operation as it adds a strategical component to our future initiatives.”
Both SCS and Jormandy are RMAi Certified Receivables businesses and very involved in the industry.