Collector

Great Lakes Credit Union•Bannockburn, IL

7d•$20 - $31

About The Position

The Collector collects routine past-due accounts and helps mitigate losses through calls, letters, and securing member share accounts to offset delinquencies. The role provides quality member service, treats borrowers with dignity and respect, assesses members’ financial needs and goals, and recommends relevant products and services. The Collector performs work accurately and in compliance with applicable laws, regulations, and GLCU policies and procedures, while maintaining positive working relationships and participating in training opportunities. The position works an assigned queue of accounts less than 60 days past due, making routine collection calls and following up on payment promises and broken arrangements. Duties include reconciling past-due loans and overdrawn shares, reviewing payment methods, analyzing consumer credit information, skip tracing, preparing collection correspondence, and documenting collection efforts. The Collector may recommend or initiate repossession, address negative share accounts, and place charged-off debt with collection agencies or attorneys. This is an ongoing opportunity listing; GLCU welcomes applications and will make contact if a future opportunity matches the applicant’s skills and availability.

Requirements

At least one year of experience in a call center environment or financial institution.

Responsibilities

Treat each borrower with dignity and respect and provide quality member service throughout collection activity.
Work an assigned queue of accounts less than 60 days past due at least twice per week.
Make collection calls to resolve delinquencies and reconcile past-due loans and overdrawn shares.
Review ACH setup, automatic payments, and other payment methods.
Analyze consumer credit information to help determine collectability.
Perform skip tracing when contact information is missing or incorrect, or when members cannot be reached.
Prepare collection letters and maintain accurate records of collection efforts and conversations in GLCU’s system of record.
Place charged-off debt with collection agencies or attorneys to maximize recovery.
Make sound recommendations to Collections leadership regarding appropriate action or resolution for accounts without contact or other problematic accounts.
Provide member credit information in accordance with GLCU policies and procedures, and cross-sell GLCU services when appropriate.
Comply with applicable federal and state laws and regulations, including the Fair Debt Collection Practices Act and the Soldiers and Sailors Act, as well as GLCU policies, procedures, and internal controls.
Recommend and possibly initiate collateral repossession when attempts to reach an agreement fail or payment arrangements are not kept.
Inform the Collection Manager of problematic situations in a timely manner.
Participate on project teams as necessary.
Follow up on payment promises, broken arrangements, and lien perfection issues.
When necessary, recommend appropriate collection steps to the Sr. Manager, Collections for uncooperative, skipped, or defaulting members, including repossession and foreclosure scenarios.
Handle all aspects of negative share accounts when necessary.
Perform other duties as assigned.

Benefits

Competitive total compensation package.
Medical, dental, and vision insurance.
Wellness programs and health membership reimbursement.
Company-paid short-term and long-term disability.
Employee banking benefits, including 24/7 digital banking and access to a network of more than 30,000 ATMs and 18 branches.
Company-paid life insurance.
Generous paid time off and paid holidays.
401(k) retirement savings plan with employer matching contributions.
Training programs and mentorship opportunities.
Tuition reimbursement for continuing education.
Employee recognition programs.
Community service initiatives and volunteer opportunities.