Consumer Loan Officer I

*** This role is reserved exclusively for current employees of Workers Federal Credit Union (WCU). External candidates will not be considered at this time.

Title: Consumer Loan Officer I & II

Department: Consumer Origination

Department Location: Littleton, MA

Reports to: Director, Consumer Loan Production

Career Stream: Individual Contributor

Classification: Hybrid

Onsite Frequency: Works on-site at HQ more than 10 days per month with assigned workspace

Pay Grade: 9

FLSA Status: Non-Exempt

Pay Grade Range: $27.51-$34.39

Actual compensation offered may vary from the posted pay grade range based on factors such as relevant experience, time in role, base salary of internal peers, prior performance, business sector, licensure requirements and/or skill level, and will be finalized at the time of offer.

FUNCTION:

Answer incoming telephone calls, respond to email inquiries, proactively follow up with members, nonmembers, WCU branch network, and dealership partners regarding consumer loan needs. Interview applicants to determine specific loan and financial needs. Provide education on appropriate loan programs and relevant supporting products and services best suiting the applicants' financial needs. Take applications, deliver loan contracts, and provide follow-up as necessary.

ESSENTIAL DUTIES:

Member and Dealer Telephone Support

• Answer incoming telephone calls, respond to email requests, from members, nonmembers, WCU branch network, and dealership partners daily in accordance with predetermined guidelines.
• Provide excellent service within set expectations.

Consumer Loan Interviewing

• Interview applicants to determine consumer loan needs using open-ended questions, active listening, credit and risk analysis.
• Educate members on loan protections, insurance services, membership eligibility requirements, and other WCU products and services.

Dealer Loans

• Collaborate with indirect dealers to answer questions, address specific loan applications, identify potential approvals, and promote WCU products and services.
• Build and maintain strong working relationships with all dealers. Inform them of loan decisions, including reviewing conditions and optional protections (e.g., payment protection, warranty, GAP).
• Satisfy conditions for approved loans, prepare closing documents, and send them via DocuSign to members.
• Manage dealer loan processes from inception to funding and assist with incomplete loans and unresponsive dealers.
• Partner with the Dealer Relations Manager to resolve member issues with specific dealers.

Branch and Online Applications

• Assist members and nonmembers with loan applications and verify all provided information for accuracy.
• Notify borrowers of loan approvals, explaining loan terms, rates, payments, and conditions for closing.
• Document additional details for underwriters and support staff.
• Use borrowers' credit reports for cross-selling opportunities and provide advice on improving credit scores.
• Recommend Workers Way financial wellness programs when applicable. remove
• Collaborate with the titles department to resolve any issues with loan collateral and titles.
• Prepare loan documents, send them for electronic signatures through DocuSign, and finalize loan closings based on borrower preferences.

Sales Goals and Performance

• Meet or exceed sales goals for upselling optional protection products, including GAP insurance, payment protection, and extended warranties.
• Proactively educate borrowers on the benefits of these products and integrate them into loan discussions.
• Track and report sales performance metrics as part of monthly individual sales reports.
• Collaborate with team members to share best practices for achieving upselling targets.

Communication and Reporting

• Communicate lending decisions to members and dealers through preferred channels, reinforcing loan program details and handling objections.
• Provide clear instructions on outstanding stipulations required for closing and ensure members understand the process.
• Prepare and submit monthly individual sales reports to the Director, Consumer Loan Production in a timely and accurate manner.

Other Duties

• Maintain a thorough knowledge of all WCU products, services, rates, and fees.
• May be required to work occasional Saturdays.
• May be asked to provide coverage in other WCU branches or departments.
• Adhere to all WCU policies and procedures which include security compliance and following guidelines intended to limit risk exposure to fraud and losses.
• Participates in department and/or organizational projects as directed.
• Performs other tasks or functions as required, requested, necessary or prudent.
• Maintains confidentiality of all member and credit union information and data.

Additional responsibilities assigned to Consumer Loan Officer II:

• Conduct monthly branch visits to continue open communication and collaboration with retail service providers.
• Accompany the Dealer Relations Manager on monthly dealer visits to discuss volume, look to book, and any missed opportunities.
• Provide back-up support to the Director, Consumer Loan Production.
• Work closely with titles to ensure the timely and accurate placement of our liens.
• Annual review of the dealer performance.
• Work with the Director, Consumer Loan Production on dealer write-ups and continued monitoring of their portfolios.

Education

• High School Diploma or Equivalent Required.

Experience:

• Three years of credit union or banking experience with at least three years of sales experience inside or outside of the banking or credit union industry

Knowledge/Skills/Abilities/Competencies:

• Complete understanding of all aspects of State and Federal banking regulations including Reg C, Reg D, Reg E, Reg Z, USA Patriot Act (and how all of these regulations apply to the membership);
• Proficient knowledge in Word and Excel.

Work Environment:

• This job operates in a professional office environment.
• This role is currently classified as a Hybrid position. However, the classification is subject to change based on business needs.

Physical Demands:

• The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
• This is a largely sedentary role.
• While performing the duties of this job, the employee is regularly required to stand, talk, hear, and use hands and fingers to handle, feel or operate objects, tools, or controls and to reach with hands and arms.
• This role routinely uses standard office equipment such as computers, phones, photocopier/scanner, filing cabinets, and fax machines.
• Ability to travel to other work locations as required.

NOTE: Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.

AMERICANS WITH DISABILITIES ACT: Workers Credit Union complies with all aspects of the Americans with Disabilities Act (ADA) and state disability laws. This means we will not discriminate against qualified individuals with a disability in any phase of the employment relationship including application for employment, hiring, promotions and/or advancement opportunities, termination, compensation, training and any other conditions or privileges of employment.

About Workers Credit Union: Since 1914, Workers Credit Union has existed to Improve the Daily Lives of our Members. We deliver on our core purpose by partnering with our members to help them make their best financial choices and improve their financial wellness. We call this The Workers Way and this is at the center of everything we do. Through our specialized financial counseling, we are pioneering a new member experience through high-touch service and convenient technology. We have grown to over 2.6 Billion in assets and serve over 120,000 members. We are one of the top performing credit unions in Massachusetts with big plans for the future!

Benefits:

• Comprehensive medical, dental and vision plans
• Basic life and AD&D insurance, short-term disability and long-term disability
• 15+ days of paid time off (PTO) per year
• Up to 16 hours of volunteer time off (VTO) per year
• 11+ paid holidays
• 401(k) that includes a Safe Harbor Match of up to 4%.
• Tuition Reimbursement Program
• Mental health resources including an Employee Assistance Program (EAP)
• Individualized learning and development programs

EEO Statement: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.