What are the responsibilities and job description for the Collections Specialist position at General Electric Credit Union?
Collections Specialist
General Electric Credit Union is a not-for-profit, member-owned full service financial institution headquartered in Cincinnati with branches in Ohio and Kentucky. At GECU, we pride ourselves on maintaining quality service, being an employee-friendly workplace, and developing our team members while teaching you the skills to lead you to career advancement opportunities.
Overview :
The Collections Specialist works to connect with members that have outstanding balances owed to the credit union to provide payment solutions and remedy delinquency on accounts, providing a high-level of member support.
Essential Responsibilities :
- Collect delinquent payments on installment loans, lines of credit, and credit cards that are 30 days past due following the guidelines set forth in the Fair Debt Collections Practices Act (FDCPA)
- Contact members with delinquent accounts via email or phone, utilizing basic skip tracing techniques to find additional or updated contact information when members fail to respond
- Document account activity and member interactions using the appropriate systems for both internal and legal purposes
- Interpret information from multiple systems to determine member status (i.e., special statuses such as bankruptcy or repossession) and ability to make payments on delinquent accounts
- Work with members to establish mutually acceptable payment arrangements to bring delinquent accounts back into good standing
- Process payments for delinquent accounts by processing internal transfers from deposit accounts, debit or credit card payments, or check-by-phone payments
- Send out appropriate communications to members by email or mail for a change in terms of the original payment arrangements
- Facilitate internal maintenance on accounts such as updating addresses, correcting account issues, and revocation of credit cards by completing the appropriate forms and internal paperwork
- Review member accounts to determine the need for legal / repossession actions with oversight and management review
- Collaborate with and assist internal team members with delinquent accounts via internal communications and phone
- Participate in cross-training activities to help support the department as necessary
Education and Experience :
Knowledge, Skills, and Abilities :
At GECU, we want to support your wellbeing by offering a wide range of benefits :
And many more!
Come join GECU as we are a curated culture of respect, understanding, and mutual recognition. We believe forming bonds and connecting with each other only stands to strengthen the service we provide to our members in our mission of improving the Quality of Financial lives!
General Electric Credit Union is an Equal Opportunity Employer
