Description
- Follows up on delinquent accounts & shares by telephone, personal contact, and correspondence to secure a satisfactory resolution to the repayment problem.
- Discusses possible financial arrangements, informs members of potential legal actions, and suggests financial counseling to arrive at suitable payment arrangements. Continues to collect until loan becomes a write-off, bankruptcy, or attorney account. Makes early contact with members and co-makers to collect and keep them informed of loan status. Makes effective use of collection tools.
- Utilizes effective human relations skills to present a positive Credit Union image in an already negative situation. Calms irate members and answers member questions and complaints relevant to Department functions. Determines reasons for delinquencies and works toward permanent solutions. Minimizes losses by early actions.
- Utilizes further appropriate collection methods if initial attempts do not secure required payment. Recommends extensions of due dates. Suggests consolidations, financial counseling, and repossessions as needed. Performs fee adjustments, as assigned.
- Performs skip tracing. Requests and updates contact information from available sources.
- Performs General Ledger transactions regarding recoveries, repossessions, and foreclosures.
- Processes Loss Prevention related transactions.
- Performs various loan and account maintenance as assigned.
- Refers accounts to Bankruptcy Specialist for bankruptcy actions.
- Recommends possible charge-offs.
- Performs collections efforts in accordance with Credit Union policies and procedures and ensures they are legally compliant.
- Keeps accurate and up-to-date activity reports on late, potentially late, and delinquent loans and charged off shares.
- Documents all collection actions taken, including telephone conversations, alternative financial arrangements, and correspondence.
- Provides members the opportunity to fully explain their loan and or charged off share status and current financial situation.
- Handles deceased accounts.
- May perform other Loss Prevention duties as assigned.
- Keeps management informed of activities, progress toward established objectives, and of any significant problems.
- Stays informed of changes in collections policies, procedures, and related legal requirements.
- Promotes and establishes strong, positive and productive working relationships within the organization through commitment to the company's purpose, mission and core values.
Behaviors
Dedicated - Devoted to a task or purpose with loyalty or integrity
Team Player - Works well as a member of a group
Detail Oriented - Capable of carrying out a given task with all details necessary to get the task done well
Education
Bachelors (preferred)
High School (required)
Experience
Must be able to maintain strict confidentiality. (preferred)
Must possess excellent organizational skills and be attentive to detail. (preferred)
Ability to work well independently and with a team. (preferred)
Ability to work well in stressful situations, multi-task and manage multiple projects at once. (preferred)
Understanding of financial products and policies and familiarity with default and enforcement clauses. (required)
Knowledge of collection procedures and related laws and regulations such as FDCPA. (required)
2 - 5 years: 2-5 years of collections or related experience. (required)
Dependability (required)Attention to Detail (preferred)Accuracy (preferred)
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
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Georgia United Credit Union
Jan 12, 2025