Our history is rich and long. We are very proud of where we came from, where we are and our future.
The great-grand father of the current owner, John (NMN) Hopkinson, immigrated into the U.S. in 1912 and settled in the Charlottesville, VA area. At the time, there were already several retail shops in the downtown area owned and operated by Englishmen. Immigrants typically congregated with those who had familiar customs. So, many of these businessmen spent social time together. Several of the retail operators had experienced consumer receivables issues and suggested they needed a “Bureau of Credits” as they had in England. Mr. Hopkinson agreed and established Charlottesville Bureau of Credits in 1920, later incorporated in 1922. Records were kept using quill pens, ledgers and onion paper.
CBC was passed down to his son, John B. Hopkinson, who ran the agency until the late 1950’s. At that time, he became ill and moved to Florida. His son, John M. Hopkinson, who was in the Army at the time received a hardship discharge to return home to run the family business.
John M. Hopkinson, his wife Sandra and an employee who had family ties to the Shenandoah Valley and western Maryland decided to create a second, separated agency named Valley Credit Service, Inc. in 1966, it made corporate sense for purposes of mitigating risk to create a new company. Should this new venture fail, it wouldn’t pull CBC down with it. Both corporations flourished. VCS, Inc has call centers in Staunton, VA and Hagerstown, MD.
Mr. Hopkinson, the grandson of the founder, brought the operations of CBC from quill pen and onion paper to account cards early on. A forward thinker, he understood the power of computerization and in 1983 was one of the first agencies in VA to fully computerize its records. VCS computerized shortly thereafter. This brought new possibilities and operational efficiencies that benefited the corporations as well as their clients.
After a tour in the U.S. Coast Guard, the fourth generation entered the business. In 1986, the current owner and President, William E. Hopkinson joined the agency. He worked his way through every aspect of sales and operations, learning the intricacies of a computerized business until being named V.P. of Operations in 1996. Since that time, CBC has expanded its service offerings in the account receivables management based on client needs and available technology.
Until late 2015, CBC and VCS offered substantially identical services. While it made sense in 1966 to have separate corporations, the reasons no longer existed. Both corporations were and are financially strong and have a varied client base. In December 2015, CBC, Inc divested from third-party collections by giving its client base to VCS to focus on early-out and ancillary services. Each corporation now focuses on what it does best. CBC offers merchant services, insurance billing and software, self-pay billing, payment monitoring and tenant screening/rental payment solutions while VCS specializes in services focused on resolving past-due acocunts. These two sister companies work together to maximize client profits through enhanced cash flow, credit, accounts receivables management and collection.
CBC and VCS share their corporate office in Charlottesville, VA. CBC, Inc is the oldest A/R management firm on the east coast and has served more than 5,000 clients since its inception. Today, VCS, Inc is the only ACA PPMS certified agency in Virginia who dual certifies every agent.
Through integrated technologies, highly motivated and trained staff, CBC & VCS will focus on the financial success and profitability of our clients with exceptional service created through a relationship defined by our clients and grounded in compliance. We accomplish this through consistent education, communication, superior service and continual systems improvement!
“We have used Valley Credit Service as an offsite collection agency for more than 20 years. We have always been pleased with their high percentage of collections. The staff is well trained and efficient in handling all aspects of delinquent accounts.” – Business Office Manager, Radiology Group