Reports To: President/CEO
Supervises: None
Classification: Non-Exempt
JOB SUMMARY:
The Collector is responsible for managing delinquent loans, contacting members regarding past-due accounts, and working with members to bring accounts current while upholding the credit union’s commitment to respectful, member-focused service. This position ensures accurate documentation, compliance with credit union policies, and effective communication with management regarding account status.
DUTIES AND RESPONSIBILITIES:
Delinquency Management
- Monitor daily, weekly, and monthly delinquency reports.
- Contact members by phone, email, mail, and text regarding past-due loans and negative accounts.
- Establish and document payment arrangements in accordance with policy.
- Provide courteous, professional communication even in difficult or sensitive situations.
- Maintain accurate and detailed notes in the core system.
Collections Activity
- Follow up on broken promises, partial payments, and unresolved arrangements.
- Prepare and send collection letters, right-to-cure notices, and adverse action notices as applicable.
- Assist members with understanding their loan terms, insurance claims, and collateral insurance requirements.
- Process skip-a-pay requests or loan modifications in accordance with policy and management approval.
- Work accounts through all stages of delinquency, including internal collections, charge-off recommendation, and post-charge-off recovery efforts.
Legal & Administrative Processes
- Prepare documentation for garnishments, judgments, repossessions, and bankruptcy filings.
- Coordinate with attorneys, repossession agents, and courts as needed.
- Assist with filing claims for GAP and insurance for totaled vehicles.
- Track returned mail, address changes, and skip tracing efforts.
- Maintain compliance with federal, state, and tribal regulations (if applicable).
Member Support & Financial Guidance
- Help members understand their financial obligations and available repayment options.
- Offer financial education resources when appropriate.
- Maintain a respectful, empathetic approach to all member interactions.
Reporting
- Prepare delinquency, charge-off and other reports for management and Board.
- Recommend accounts for charge-off when appropriate, with supporting documentation.
Compliance & Training
- Maintains up to date knowledge and adheres to all regulations, policies, procedures, and standards that pertain to this position.
- Actively works to ensure credit union compliance with OFAC, Bank Secrecy Act, Anti-Money Laundering, and U.S.A. Patriot Act.
- Follows credit union policies and procedures.
- Completes regular training as required.
Other Duties
- Perform teller duties when needed.
- Perform other duties as assigned, including filling in for other departments as member demand necessitates.
- Ensures the timely opening and closing of the credit union daily.
- Maintains a professional work area.
- Accurately completes and submits time sheets and time off requests.
QUALIFICATIONS:
Education Requirements:
- High School Diploma or GED required.
Required Knowledge:
- Basic knowledge with Microsoft Office (Word, Excel, PowerPoint, and Outlook).
- Knowledge of collection duties and processes.
Certificates / Licenses Required:
- Must have and maintain a valid driver’s license.
Experience Preferred:
- Credit union or banking collection experience.
Skills/Abilities:
- Strong interpersonal and communication skills.
- Well organized.
- Able to operate related computer applications and basic business equipment.
Attributes:
- Collaboration - Is an effective team player who adds complementary skills and contributes valuable ideas, opinions and feedback; communicates in an open and candid manner and can be counted upon to fulfill any commitments made to others on the team.
- Effective Communication - Utilizes a variety of communication modalities effectively and appropriately across multiple channels.
- Functional Expertise - Possesses a sufficient level of technical and professional skill or knowledge in position-related areas; keeps up with current developments and trends in areas of expertise; actively seeks ways to grow and be challenged using both formal and informal development activities.
- Member Focus – Builds and maintains collaborative relationships with internal and external members which result in member satisfaction with both the process and the outcome.
- Resilient – Maintains composure under pressure; handles difficult situations effectively, maintains a positive attitude despite adversity; uses adversity as a learning opportunity.
- Self-Motivated – Proactively takes the initiative to accomplish necessary tasks and seize new and at times, challenging opportunities.
Interpersonal Skills
- Intermediate written and verbal communication skills are required to effectively interact with members regarding delinquent loan status and financial transactions which may involve problem resolution and offer educational information regarding products and services. Ability to work with confidential information and always maintaining confidentiality. Ability to create an atmosphere which promotes OMFCU’s Core Values by maintaining a high level of personal integrity, presenting a friendly, enthusiastic, and professional demeanor while providing outstanding service to members and fostering teamwork among employees.
- Good listener, empathy, positive attitude, and teamwork are required.
WORKING CONDITIONS:
- Position is on-site.
- Routinely perform work indoors in climate-controlled shared work area with a moderate to high level of noise.
- Understands that there is exposure to second-hand smoke.
- Must be able to perform job functions either independently and work effectively on own.
- Must be able to plan their own work activities as well as take direction.
- Must be able to read and carry out various complicated written and oral instructions.
- Must be able to speak clearly and deliver information in a logical and understandable sequence.
- Must be able to perform basic mathematical calculations with extreme accuracy.
- Must be able to perform professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public.
- Must be ale to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace.
- Must be able to effectively handle multiple, simultaneous, and changing priorities.
- Must be capable of exercising the highest level of discretion on both internal and external confidential matters.