Repossession Specialist

LMCU • Grand Rapids, MI

3d • Onsite

About The Position

The Repossession Specialist I preserves the Credit Union’s assets by controlling delinquent loan accounts, collecting delinquent loan payments, recovering collateral, and ensuring that collateral is sold for proper value.

This position coordinates repossession activity with third-party agencies, reviews vehicle condition and auction information, prepares required member communications and documentation, and processes payments and invoices while maintaining accurate account and general ledger records. The role must follow applicable state and federal requirements and LMCU’s core values.

Requirements

• High school diploma or equivalent.
• 1–3 years of related experience.
• Strong communication and customer service skills.
• Ability to work independently and as part of a team.
• Strong attention to detail, organization, and confidentiality.
• Ability to manage multiple priorities in a fast-paced environment.
• Basic computer and math skills.
• Ability to work in a professional office environment.

Nice To Haves

• Credit union experience preferred.

Responsibilities

• Coordinate with third-party repossession agencies to investigate, locate, and recover collateral using skip tracing tools, account research, and other available resources.
• Review condition reports, photographs, and public auction data to assess collateral condition and support accurate valuation and sale decisions for repossessed vehicles.
• Prepare and ensure timely delivery of required member communications and documentation in compliance with applicable state and federal regulations, including CFPB, FDCPA, and SCRA requirements.
• Process payment postings, review and approve invoices, and maintain accurate general ledger and member account records throughout the repossession process.
• Adhere to and champion LMCU’s core values of curious minds, collaborative hearts, and continuous excellence.
• Comply with applicable laws and regulations, including the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control requirements.

Benefits

• Weekly pay.
• Retirement savings options.
• Comprehensive health coverage, including medical with prescription coverage, dental, and vision.
• HSA match.
• Paid parental leave.
• Tuition reimbursement.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED