Loan Officer

General Summary

Serves as Loan Officer for the Credit Union with responsibility for interviewing loan applicants and approving, processing and disbursing loans. Also, responsible for providing other services to include servicing existing accounts and handling members’ needs in a professional and confidential manner.

Essential Functions

· Serve as a point of contact for members needing information on Credit Union lending products and services.

· Gather background information on loan applicants through interviewing and running credit reports.

· Assist members with the loan application process to ensure completeness of information, including information by phone and secure online applications.

· Verify debts, calculate debt-to-income ratio, and determine collateral needs for members applying for loans.

· Approve or deny loans in accordance with established policy guidelines.

· Verify loan amounts/terms, complete documents, and disburse loan when approved.

· Notify member if denied for loan and explain reasons for denial.

· Implement new loan products and services in accordance with management direction.

· Provide in-person, online, and by telephone general and specific service-related information.

· Establish and change direct deposit and payroll deductions.

· Promote and cross-sell services offered by the Credit Union.

· Conduct orientation to explain loan services and programs to new Credit Union members.

· Perform a variety of duties relating to collection and monitoring of delinquent accounts.

· Stay current on all products and services in order to accurately explain to new members.

· Keep abreast of all rules and regulations related to Credit Union products and services.

· Attend educational workshops, seminars, webinars and other training sessions as required.

NOTE: This list of essential functions is not exhaustive. It may be supplemented as necessary.

Additional Functions

· Keep abreast of competitors’ rates and changes in consumer lending.

· Serve as notary.

· Perform clerical/office duties as assigned.

· Establish and change direct deposit and payroll deductions.

· Support and assist management on an ongoing basis.

Job Specifications

· Requires well-developed interpersonal skills essential for communicating information to Credit Union members.

· Should be licensed through NMLS registry and have a lender identification number.

· Work requires knowledge of consumer lending policies, approval criteria, interest rates, and required documentation for each type of loan.

· Also requires intermediate mathematical skills (calculation and concepts involving decimals, percentages, fractions, etc.)

· Requires basic computer skills necessary for data entry/retrieval. Microsoft Office knowledge.

These characteristics are normally acquired through completion of high school education plus completion of additional course work in lending. At least one year experience in lending, or recognized equivalent, is required. College or higher education is a plus.

Job Type: Full-time

Pay: From $17.00 per hour

Benefits:

• 401(k)
• Dental insurance
• Health insurance
• Paid time off
• Vision insurance

Schedule:

• 8 hour shift
• Day shift
• Monday to Friday

Experience:

• lending: 1 year (Preferred)
• Financial services: 1 year (Preferred)

License/Certification:

• NMLS (Preferred)

Work Location: In person

Salary : $17