Sallie Mae giveth what Arrow Financial Services taketh back, with interest. The collection services company, which is majority owned by student loan provider SLM (Sallie Mae), performs contingency collection services on past-due consumer accounts. Arrow Financial works on behalf of its parent as well as credit card issuers; telecommunications providers; utility companies; and auto, education, and other consumer lenders. The company also purchases and services performing and nonperforming consumer debt. It has about a half-dozen call centers and other offices around the nation. Sallie Mae acquired a majority stake in Arrow Financial in 2004.