Collector

Job Description

Job Description

Professional Summary

The Collector is responsible for managing and collecting delinquent loan accounts while preserving the member relationship. This role involves proactive contact with members, repossession coordination, bankruptcy case handling, legal liaison duties, and maintaining accurate and compliant records. The ideal candidate balances assertiveness with empathy to achieve successful resolutions that align with the credit union’s values.

Key Responsibilities

• Delinquency Management:
  • Monitor and control late and delinquent loan accounts using follow-up calls, correspondence, and a tickler system.
  • Contact high-balance or overdue accounts to develop repayment or workout plans.
  • Notify co-signers and maintain communication throughout delinquency.
• Legal & Compliance Coordination:
  • Handle legal processes related to repossession, bankruptcy, settlements, and foreclosure with direction from senior management.
  • Serve as the primary liaison with external attorneys and trustees.
  • File claims, attend court hearings, and ensure compliance with state/federal regulations.
• Record Keeping & Reporting:
  • Maintain accurate and current documentation of all collection activities.
  • Prepare and present collection reports and statistics to management on a scheduled basis.
  • Update member files, systems, and accounting records accordingly.
• Repossession & Bankruptcy Oversight:
  • Secure, maintain, and prepare repossessed collateral for sale.
  • Submit and reconcile data related to repossessions, bankruptcies, and forced-placed insurance (FPI).
  • Coordinate FPI premium additions and refunds on member accounts.
• Member Engagement & Support:
  • Provide respectful and professional service to members facing delinquency.
  • Investigate and correct discrepancies in credit reports and loan applications.
  • Assist members with delinquent real estate loans in resolving payment issues.
• Additional Duties:
  • Monitor negative share draft accounts and ensure follow-up actions are completed.
  • Research payroll deductions affecting loan payments.
  • Recommend charge-offs and other escalated actions when necessary.

Required Skills & Qualifications

• High school diploma or equivalent required.
• Proven experience in collections, preferably within a financial institution or credit union.
• Strong knowledge of collection laws, procedures, and legal documentation.
• Excellent verbal and written communication skills.
• Proficient in Microsoft Office and core banking software.
• Strong organizational and problem-solving skills with attention to detail.
• Ability to work independently and in a team environment.
• Professional appearance and demeanor.

Salary will be based on experience. 

This job description describes the general nature and level of work performed by employees assigned to this position. It is not intended to be an exhaustive list of duties, responsibilities, or qualifications. The Credit Union reserves the right to assign additional responsibilities as business needs require.