Collector, Finance & Banking

Collector Position Purpose

Responsible for the control of late and/or delinquent loan accounts and pending late payment reminders. Make follow-up telephone calls on delinquent loan accounts and maintain accurate records on delinquent loan accounts. Optimize collections on accounts while balancing the goodwill of members with the overall business interests of the credit union. Make the most of each contact by finding ways to resolve member issues and upsell credit union products.

Look for ways to solve member issues in the long term and not just seek a short‑term solution. Make recommendations on actions that should be taken if loan collateral is in jeopardy and recommend accounts that need to be sent to the attorney, reporting to the supervisor.

• Monitor payments for late and/or delinquency status. Follow up on delinquent, high balance.
• Respond to telephone calls regarding payment notices and delinquent accounts.
• Contact high balance and/or delinquent members by telephone and mail to identify the reasons for balance or delinquency, and assist them in developing plans to bring accounts to a current status. Develop workout plans and collect overdue accounts wherever possible.
• Contact co‑signers and references regarding status of delinquent accounts.
• Maintain a detailed written record of all communications made regarding delinquency.
• Update files and system accounts via the credit union’s delinquent loan recovery system.
• 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 as they may affect the status of a loan repayment.
• Assist members with delinquent real‑estate loans to resolve delinquency.
• Determine when to compromise and settle balances and when to initiate foreclosure or repossession proceedings.
• Determine when loan collateral should be repossessed, and serve as liaison with attorneys or agencies in handling repossession of collateral.
• File all claims, attend hearings, and coordinate with trustees for all bankruptcy filings. Follow all procedures in relation to bankrupt accounts.
• Investigate and correct discrepancies in loan applications.
• Prepare information needed or required by collection agency, and post receipts from collection agency. Correspond with attorneys regarding accounts that have been sent out for legal.
• Complete all necessary reports.
• Recommend loans and share for charge‑off and charge‑off according to CU policy.
• Track property taxes due on mortgages and contact members to ensure property taxes are paid current.
• All other duties as assigned.

• Medical, Dental and Vision insurance
• Group life insurance
• 401(k) with employer match
• Paid time off and paid holidays
• Staff celebration, rewards, and incentives
• Career development & more

Public Service Credit Union – Fort Wayne, Indiana -