What are the responsibilities and job description for the Repossession Specialist position at Lake Michigan Credit Union?
Title: Repossession Specialist
Primary Location: Grand Rapids
Employee Status: full-time hourly
Estimated Hours/Week: 38
Remote: No
What You’ll Get: (note varied offerings based on role and hours)
- Weekly Pay
- Comprehensive Health & Wellness package including Medical (with prescription coverage), Dental, and vision
- Matching Health Savings Account Contributions, Dependent Care flexible spending account (FSA)
- Retirement options like 401 (k) with company match and pension.
- Paid time off: Vacation, Personal days, paid holidays, paid volunteer time, sick days, & flex time.
- Tuition reimbursement
- To see a full list of our benefit offerings – check out thishelpful guide!
About this position:
LMCU is looking for a Repossession Specialist who will be responsible for preserving the Credit Union’s assets by controlling delinquent loan accounts, collecting delinquent loan payments and/or recovering collateral.
What you’ll do:
- Contacts delinquent accounts by phone and mail; takes appropriate action to bring current or seize LMCU collateral.
- Analyzes financial situation of delinquent borrowers and values the collateral in which LMCU holds a secured interest. Provides recommendations to management for either Loan Work Out with Members or that collateral needs to be repossessed.
- Attends auctions as needed to ensure LMCU is getting the most value on all repossessed collateral and maintains accurate reports showing all existing LMCU collateral with proper PVGL amounts.
- Informs management of trends in loan underwriting contributing to delinquent/charged off loans.
- Ensures that LMCU is obtaining a minimum of 90% of all PVGL amounts for all repossessed collateral.
What You’ll Bring: You’ll like this position if you are...
- 2 years of similar or related experience in collections and/or lending.
- Prior experience in a credit union, bank, or similar institution is preferred.
- Excellent written and verbal communication skills.
Who We Are:
We’re proud of our past, thrilled with our present, and couldn’t be more excited about our future! Lake Michigan Credit Union has grown to become one of the largest credit unions in the nation with our headquarters in West Michigan.
As a credit union, LMCU is a not for profit institution, owned by its members, instead of corporate stock holders. We are accountable directly to our members, and they directly share in our success – benefitting by lower and fewer fees, better savings and checking interest rates, lower cost mortgages and a host of other advantages that simply don’t exist at traditional banks.
It’s about always doing what’s best and right for our members - it guides everything we do.
From friendly, knowledgeable and professional employees who greet you by name, to offering stellar value at every turn, LMCU works for its members.
Working with LMCU you can grow and advance in your career and work with talented teams that help you become better each and every day. As an employee you can have confidence in knowing your work is having an impact by supporting our mission of serving our members’ lifetime financial needs.
You’ll be encouraged to innovate and excel and we're committed to your empowerment as an employee, providing ongoing training, development, support, and opportunities for you to achieve your career goals.
Have additional questions about the role?
You may email us at:
Careers@lmcu.org
.
If you lack access to the internet or internet connectivity, or have a disability that hinders your ability to apply online, please choose one of the following options to obtain assistance:
Call us at: (616) 242-9790
Mail your resume to: 5664 Prairie Creek Drive, Caledonia, MI 49316
Please Note: These options are reserved for use by individuals requesting an accommodation as a candidate. Information received via these options will be routed to our HR team, who will provide appropriate assistance to facilitate the completion of LMCU’s online application.
LMCU is an Equal Opportunity Employer
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