About This Role
The Credit Union Loan Officer processes various loan applications, including VISA, home equity, and mortgages, submitted by Credit Union members. This role involves approving or disapproving applications within Credit Union guidelines and Federal regulations, always acting in the best interest of the Credit Union and its members as a whole. The officer operates with basic to moderate loan authority.
Responsibilities
- Perform the duties of a Loan Processor
- Approve consumer, credit card, and real estate loans within the limits approved by the Credit Union's Board of Directors
- Perform collection duties on delinquent loans, VISA accounts, and negative balance share accounts
- Mail right to cure notices as assigned from the Loan Supervisor
- Prepare and file documents to obtain judgment/garnishment
- Notify co-signers regarding status on delinquent accounts
- Attend bankruptcy hearings and process claims as directed by the Loan Supervisor
- Interview Credit Union members in person or by telephone to take loan applications
- Exercise appropriate judgment to cross-sell other suitable loan products and services to promote the overall growth of the Credit Union
- Meet and/or exceed established production levels related to the budgeted loan area of the strategic plan
- Accumulate, understand, and communicate applicable disclosures for all loan products and services, including fixed and variable rate loans, open-end and closed-end loans, consumer, and credit card loans
- Provide timely communication of loan information to members as requested and as required by Credit Union policies and procedures
- Maintain a loan pipeline to track pending loans from application through closure
- Demonstrate prioritization of tasks and time management to effectively guide members through the loan process
- Process loan applications by securing credit bureau requests, verifying debts on application to credit report, and calculating member debt and collateral ratios as required by policy
- Verify income and employment of persons applying for loans in accordance with policies, resolving any discrepancies
- Counsel members with credit problems on ways to resolve those problems by following Credit Union guidelines and procedures
- Disburse approved loans, ensuring prior to disbursement that all required documentation is complete and accurate, the loan was approved within the officer's authority, and verification of current homeowner's, automobile, personal property and/or flood insurance policies (as applicable) to ensure the insurance clause is in favor of the Credit Union
- Determine values of collateral by following Credit Union guidelines to ensure that insufficient collateral situations do not occur or are promptly identified
