Member Solutions Specialist I

VERVE A CREDIT UNION • Oshkosh, WI

5d • Onsite

About The Position

The Member Solutions Specialist I is responsible for preserving the credit union’s assets by controlling delinquent loan accounts, collecting delinquent loan payments and/or recovering collateral. This role involves processing correspondence, creating form letters, monitoring payments, contacting delinquent members, arranging debt repayment, and providing financial counseling. The specialist will also maintain collection files, secure credit bureau reports, skip trace, and manage repossession logs, bankruptcy files, and charge-off lists. Additionally, they will research payroll deductions, assist members with delinquent real-estate loans, contact references, and ensure compliance with BSA/AML and OFAC regulations. A key aspect of the role is maintaining a professional image, providing helpful assistance, upgrading knowledge of financial products, and protecting member confidentiality. The specialist will input data into the collection system, maintain communication records, generate reports, and respond to member inquiries regarding payment notices and delinquent accounts. They will also monitor the mailing of payment notices and provide explanations of loan statuses. Additional duties may be assigned.

Requirements

• High school diploma or GED.
• One year of similar or related experience, preferably in a financial institution.
• Strong interpersonal skills with a friendly, professional demeanor.
• Excellent attention to detail and accuracy in documentation of interactions and repayment agreements.
• Knowledge of regulations and laws, including the Fair Debt Collection Practices Act.
• Ability to assess a member’s financial situation and offer realistic repayment options.
• Skilled in resolving disputes and overcoming objections.
• Proficient computer skills including Microsoft Office; ability to learn core banking systems.
• Ability to work Saturdays as scheduled.

Responsibilities

• Process correspondence for collections department, ensuring accuracy of work.
• Create form letters, type labels and provide general administrative support.
• Monitor payments for late and/or delinquency status.
• Contact high balance and/or delinquent members by telephone and mail to determine the reasons for balance or delinquency.
• Follow up on delinquent, high-balance, and overdue accounts by phone and/or letter.
• Ensure professional interface with members.
• Arrange for debt repayment or establish repayment schedules, based on members' financial situations to bring accounts to a current status.
• Notify co-signer regarding status of delinquent accounts.
• Trace delinquent members to new addresses by inquiring through various resources including post offices, telephone companies and credit bureaus.
• Analyze financial situation of delinquent borrowers; make recommendations for liquidate collateral or foreclose when other arrangements to bring the loan current are unsuccessful; offer financial counseling sources, repayments plans, deferments, rewrites forbearances, etc.
• Accurately maintain and document electronically stored collection files according to department procedures.
• Secure credit bureau reports.
• Skip trace on loan accounts.
• Maintain accurate data for repossession log, bankruptcy files, charge-off list, etc.
• Research payroll deductions-stops, starts, and changes s they may affect the status of a loan repayment.
• Assist members with delinquent real-estate loans and taxes to resolve delinquency.
• Contact references and other lenders by telephone for additional information to determine the member's financial situation.
• Complies with all aspects of BSA/AML and OFAC regulations as it relates to this position.
• Maintain a professional image of the credit union in dealing with members: provide friendly, helpful assistance, upgrade knowledge of financial products and protect member confidentiality.
• Input data into the credit union's collection system, maintain an accurate record of communication and generate reports as requested.
• Respond to telephone calls regarding payment notices and delinquent accounts.
• Monitor mailing of payment notices, ensuring that credit union errors are detected promptly and corrected.
• Provide members with a complete explanation of the loan's status as requested.
• Additional duties as assigned.

Benefits

• Medical, dental and vision insurances
• Supplemental insurances
• Pre-tax and Roth 401(k) Safe Harbor options
• Flexible spending accounts
• Health Savings Account (HSA)
• Paid time off (PTO)
• Paid holidays, including birthday
• Bereavement and pet leave
• Basic Life/AD&D, short-term and long-term disability coverage at no cost
• Voluntary Life/AD&D
• Employee Assistance Program

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED
• Number of Employees: 101-250 employees