Consumer Loan Officer

Consumer Loan Officer I

Full Time Clerical Littleton, MA, US

6 days ago Requisition

Salary Range: $27.51 To $34.39 Annually

*** This role is reserved exclusively for current employees of Workers Federal Credit Union (WCU). External candidates will not be considered at this time.

Title: Consumer Loan Officer I & II

Department: Consumer Origination

Department

Location:

Littleton, MA

Reports to: Director, Consumer Loan Production

Classification: Hybrid

Onsite Frequency: Works on-site at HQ more than 10 days per month with assigned workspace

Pay Grade: 9

FLSA Status: Non-Exempt

Actual compensation offered may vary from the posted pay grade range based on factors such as relevant experience, time in role, base salary of internal peers, prior performance, business sector, licensure requirements and/or skill level, and will be finalized at the time of offer.

Answer incoming telephone calls, respond to email inquiries, proactively follow up with members, nonmembers, WCU branch network, and dealership partners regarding consumer loan needs. Interview applicants to determine specific loan and financial needs. Provide education on appropriate loan programs and relevant supporting products and services best suiting the applicants’ financial needs. Take applications, deliver loan contracts, and provide follow-up as necessary.

• Answer incoming telephone calls, respond to email requests, from members, nonmembers, WCU branch network, and dealership partners daily in accordance with predetermined guidelines.
• Provide excellent service within set expectations.

• Interview applicants to determine consumer loan needs using open-ended questions, active listening, credit and risk analysis.
• Educate members on loan protections, insurance services, membership eligibility requirements, and other WCU products and services.

• Collaborate with indirect dealers to answer questions, address specific loan applications, identify potential approvals, and promote WCU products and services.
• Build and maintain strong working relationships with all dealers. Inform them of loan decisions, including reviewing conditions and optional protections (e.g., payment protection, warranty, GAP).
• Satisfy conditions for approved loans, prepare closing documents, and send them via Docu Sign to members.
• Manage dealer loan processes from inception to funding and assist with incomplete loans and unresponsive dealers.
• Partner with the Dealer Relations Manager to resolve member issues with specific dealers.

• Assist members and nonmembers with loan applications and verify all provided information for accuracy.
• Notify borrowers of loan approvals, explaining loan terms, rates, payments, and conditions for closing.
• Document additional details for underwriters and support staff.
• Use borrowers’ credit reports for cross-selling opportunities and provide advice on improving credit scores.
• Recommend Workers Way financial wellness programs when applicable.
• Collaborate with the titles department to resolve any issues with loan collateral and titles.
• Prepare loan documents, send them for electronic signatures through Docu Sign, and finalize loan closings based on borrower preferences.

• Meet or exceed sales goals for upselling optional protection products, including GAP insurance, payment protection, and extended warranties.
• Proactively educate borrowers on the benefits of these products and integrate them into loan discussions.
• Track and report sales performance metrics as part of monthly individual sales reports.
• Collaborate with team members to share best practices for achieving upselling targets.

• Communicate lending decisions to members and dealers through preferred channels, reinforcing loan program details and handling objections.
• Provide clear instructions on outstanding stipulations required for closing and ensure members understand the process.
• Prepare and submit monthly individual sales reports to the Director, Consumer Loan Production in a timely and accurate manner.

• Maintain a thorough knowledge of all WCU products, services, rates, and fees.
• May be required to work occasional Saturdays.
• May be asked to provide coverage in other WCU branches or departments.
• Adhere to all WCU policies and procedures which include security compliance and following guidelines intended to limit risk exposure to fraud and losses.
• Participates in department and/or organizational projects as directed.
• Performs other tasks or functions as required, requested, necessary or prudent.
• Maintains confidentiality of all member and credit union information and data.

• Conduct monthly branch visits to continue open communication and collaboration with retail service providers.
• Accompany the Dealer Relations Manager on monthly dealer visits to discuss volume, look to book, and any missed…