Collector

Summary: Responsible for the collection of all delinquent loan accounts from the initial contact with the member until the account is either paid or charged off. Activities include contacting delinquent members, filing civil suits, repossession and sale of collateral, Bankruptcy Claims and filing Credit Insurance product claims. Responsible for maintaining the accuracy of collection data and for compliance with State and Federal Regulations and Laws. Works closely with the Executive VP as well as the VP of Lending. Compiles and prepares various delinquency reports for Management and recommends accounts for charge off.

Essential Functions:

• Works as many hours as necessary to maintain a well functioning Collections Department.
• Performs other duties as necessary.

(Unsecured Loans and Credit Cards)

• Contacts delinquent members by telephone or in writing to obtain an agreement to make payment on a specific date. If the account is a credit card, attempts to get the member to agree to bring the account in house to facilitate collection. Follows up on member promises and continues to contact the member until payment is received. Takes right of set off against applicable accounts.
• Sends the appropriate demand correspondence to members holding unsecured loans that have not paid as agreed. Determines if the member has the ability and willingness to repay the debt, if not files civil suit in the appropriate court or forwards the account to our attorney for filing.
• Attends court hearings, secures the judgment and then files it for public record and with Experian Credit Data.
• Recommends Accounts for Charge Off.

(Bankruptcy)

• Receives bankruptcy notification and ceases all collection efforts. File maintains the data system and notifies other appropriate personnel.
• Completes and files a claim with the Bankruptcy Court and communicates with the Trustee’s office or the Debtor Attorney when necessary to ensure our claim has been treated fairly.
• Follows up on secured claims to make sure payments are made throughout the life of the plan and recommends unsecured accounts for charge off once the plan has been confirmed or the debt discharged.
• Ensures that title to collateral is released once the debtor has completed the plan and the debtor is discharged from the debt.
• Recommends Accounts for Charge Off

(Secured Debts)

• Contacts delinquent members by telephone or in writing to obtain an agreement to make payment on a specific date. If the account is a credit card, attempts to get the member to agree to bring the account in house to facilitate collection. Follows up on member promises and continues to contact the member until payment is received. Takes right of set off against applicable accounts.
• Sends appropriate demand correspondence to members who have not paid as agreed.
• Issues repossession order on collateral.
• Safeguards Collateral.
• Sends out required notification to affected member.
• Performs necessary repairs to the collateral.
• Sells collateral and applies proceeds to the loan.
• Sends out required notice to the member(s) regarding sale and request payment of deficiency balance.
• Files suit as necessary, attends court hearing, secures judgment and files it for public record, reports account to the Credit Bureau.
• Recommends Accounts for Charge Off.
• Files claims for damaged collateral and for reimbursement of single interest insurance premium and for fees incurred in collection efforts.
• Compile necessary data and prepare reports for supervisory personnel and management including the board of directors.
• Assists Members with Credit Insurance product claims.
• Interacts and communicates with members in a professional manner that builds report and relationships.
• Clearly explains questions regarding Credit Union policy and procedures in a manner which promotes goodwill and understanding with the membership.
• Prepares and executes payroll deduction, direct deposit, account to account transfers and ACH forms.
• Performs computer file maintenance on loan information.
• Answers telephone calls and assists members as needed.
• Helps with all credit union mailings and direct deposit duties.
• Files as necessary.
• Travels to and from all Credit Union locations.
• Lifts and carries at least 40 lbs. as needed.
• Assists with building maintenance.

Marginal Functions:

• Cross trains in other departments
• Participates in Credit Union education programs.
• Performs kitchen duty as assigned.
• Performs other cleaning duties as assigned.
• Tutors students and assists with the Credit Union community affairs mission.
• Maintain Department Inventory.
• Performs other duties as assigned.

Qualifications:

• Must have a high school diploma or the equivalent.
• Must have at least one year of collection experience or a related area. Credit Union experience is preferred.
• Bilingual abilities in Spanish preferred.
• Must be able to perform calculations involving fractions, ratios and percentages.
• Must have knowledge of word processing and spreadsheets.
• Must be able to lift and carry at least 40 lbs.
• Must possess professional, well-developed interpersonal skills essential for interviewing applicants and projecting a positive image as a representative of the Credit Union.
• Must have knowledge of State and Federal Laws regarding collection activities for a financial institution including repossessions, bankruptcies and foreclosures.
• Must be able to work as many hours as necessary to fulfill responsibilities of the job as described.
• Must have a valid Driver’s License and at least liability insurance on his or her vehicle.

The above information in this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job.