Collections Specialist

Collections SpecialistFarmingdale, ME 04344OverviewSalary Range $20.00 - $30.00 HourlyDescriptionMaine State Credit Union is seeking a motivated and member-focused Collections Specialist to join our Lending Team. In this role, you will help reduce delinquency and minimize loan losses while working directly with members to develop practical repayment solutions and support their financial success.The Collections Specialist is responsible for managing delinquent consumer, mortgage, credit card, and commercial loan accounts. This position requires a balance of strong collection skills, regulatory compliance knowledge, and exceptional member service. You will work closely with the VP of Lending, Collections Manager, and other team members to ensure collection efforts are conducted fairly, professionally, and in accordance with all applicable laws and credit union policies.The ideal candidate will have experience in loan collections within a financial institution, strong communication and problem-solving skills, and the ability to navigate sensitive financial situations with empathy and professionalism. Commercial collections experience is preferred.Position SummaryThe Collections Specialist is responsible for managing a portfolio of delinquent consumer, mortgage, credit card, and commercial loan accounts, ranging from early-stage delinquency to charged-off loans. This role works directly with members to develop repayment solutions, resolve complex account issues, and support positive financial outcomes. The position also partners with internal departments, attorneys, and third-party vendors to effectively manage recovery efforts, minimize losses, and maintain strong member relationships while ensuring compliance with applicable laws and regulations.What You'll DoManage delinquent consumer, mortgage, credit card, and commercial loan accounts.Contact members and negotiate payment solutions.Maintain accurate collection records and documentation.Handle recoveries, charge-offs, repossessions, and related collection activities.Work with attorneys, vendors, and internal teams to resolve delinquent accounts.Ensure compliance with all applicable regulations and credit union policies.QualificationsWhat You Bring1+ years of collections, lending, loan servicing, asset recovery, or related financial institution experience.High school diploma or GEDStrong communication, negotiation, and documentation skillsComfort working with members experiencing financial hardshipExperience with repossessions preferredCommercial collections experience is preferred.Strong problem-solving and conflict-resolution abilitiesThe pay range for this position is $20/hr-30/hr based on experience.Benefits of Employment with Maine State Credit Union:Employer-subsidized medical insurance plans, includes one plan with employer paid premiums of 97%HSA – generous employer contributionEmployer funded HRAEmployer-subsidized Dental and Vision Insurance100% employer paid - Life, Short-Term Disability and Long-Term Disability InsuranceAccident InsuranceCompetitive wages, and annual evaluations with compensation adjustmentsGenerous 401(k) employer match, plus annual discretionary contributionGenerous PTO with immediate PTO accruals + 8 hrs of birthday PTO & 12 paid holidayEducation reimbursement - up to $5,000 annually for undergraduateOpportunities to volunteer in our local communities100% Employer Paid EAP which includes 6 free mental health sessionsWellness Reimbursement of up to $150