Collections Officer 1

About the role

Are you passionate about customer service and have a strong work ethic that embodies what credit unions stand for? We are seeking a Collections Officer to join our team at Cyprus Credit Union, an exciting and respected financial institution offering opportunities for camaraderie, professional growth, and advancement.

Responsibilities

• Perform collection activities for delinquent member accounts, including Visa credit and debit cards, lines of credit, secured loans, signature loans, real estate loans, and home equity lines of credit.
• Review delinquent accounts, determine reasons for delinquency, and contact members to resolve repayment issues.
• Use various techniques to promptly collect on delinquent accounts while maintaining the Credit Union’s professional image.
• Receive delinquency reports from the computer system and verify loan status.
• Follow up on delinquent accounts via telephone, personal contact, and correspondence to secure satisfactory resolutions.
• Discuss financial arrangements, inform members of potential legal actions, and suggest financial counseling when appropriate.
• Make early contact with members and co-makers to collect and keep them informed of loan status.
• Use collection tools such as daily suspense and delinquent loan activity reports.
• Apply effective human relations skills and persuasion to present a positive Credit Union image in challenging situations.
• Calm irate members, answer questions, and address complaints relevant to department functions.
• Determine reasons for delinquencies and work toward permanent solutions to minimize losses.
• Post approved extensions and notify members of new due dates by mail.
• Monitor loans to ensure members have adequate insurance coverage to protect collateral and the Credit Union’s interests.
• Document all collection actions, including telephone conversations, financial arrangements, and correspondence.
• Keep accurate and up-to-date activity reports on late, potentially late, and delinquent loans.
• Recommend possible charge-offs and research and prepare the Write-off Summary Sheet.
• Maintain member confidentiality.

Qualifications

• High school graduate or equivalent.
• Knowledge of collection procedures and related laws and regulations.
• Understanding of Credit Union loan products and policies.
• Previous collection experience with a full-service financial institution is helpful.

Skills

• Accuracy and thoroughness in work.
• Excellent communication, telephone, and public relations skills.
• Ability to work well independently and in stressful situations.

Benefits

• Health, dental, life, and vision insurance plans.
• 401(k) and retirement savings plan.
• 12 paid holidays.
• Paid day off for your birthday.
• PTO that starts accumulating on day one.
• Earn additional PTO when volunteering in the community.
• Competitive tuition reimbursement.

Pay

Competitive pay based on experience and qualifications, with opportunities for bonuses and incentives. Pay increase for English/Spanish speaking.

Schedule

Full-time position with a shift of Monday–Friday from 8:30 AM–5:30 PM, rotating late shifts from 10:00 AM–7:00 PM, and rotating Saturdays from 9:00 AM–3:00 PM.