Collections Representative

The primary purpose of this position is to assist TBACU to live out its mission, “To serve our community and build trusted relationships.” A key component of this service is to identify members’ needs and provide appropriate TBACU product solutions which ultimately helps grow the credit union. To adequately and effectively serve members and TBACU’s staff by providing prompt and accurate financial data and maintaining financial security.

Responsible to analyze delinquent and overdrawn accounts, minimizing financial loss to the credit union by establishing appropriate courses of action.

Ensuring outstanding service to internal and external members is delivered in alignment with our Service Standards which state.

• I will provide an immediate and friendly greeting.
• I will service you with a smile.
• I will address you by name.
• I will give you my full attention.
• I will make recommendations to improve your financial well-being.
• I will treat you with courtesy and respect.
• I will thank you for your business.
• I will respond to messages before the end of the day.

• Respond to internal and external collections related questions received thru all communication channels.
• Monitor delinquent accounts, generating appropriate report to determine corrective actions.
• Prepare documentation related to legal proceedings and other scenarios on behalf of the credit union.
• Answer and resolve inquiries courteously and promptly by providing accurate and timely information.
• Build positive relationships with members by assessing needs and recommending appropriate financial solutions.
• Maintain confidentiality by avoiding unauthorized disclosure of member information.
• Maintain comprehensive knowledge of credit union products, services, policies, and standards as well as all applicable federal and state laws and regulations.
• Maintain current knowledge of Fair Debt Collections Practices Act, Bankruptcy Laws (Chapter 7, 11, and 13), and the credit union’s BSA/AML program.
• Assist other departments with collection efforts of needed items such as commercial loan documents, collateral lien placement(s), insurance tracking or other as needed.
• Assist with collateral protection insurance (CPI) tracking systems and processes and member service.

The following statements are intended to describe the general nature and level of work being performed by the position. It is not intended to be exhaustive list of all duties, responsibilities, and skills required of this position. Other duties may be assigned to meet business needs.

• Track pending and approved loan modifications, status changes or other collection updates using credit union’s data processing system.
• Communicate with members via phone, in writing or in person regarding past due and/or overdrawn accounts.
• Determine the cause and severity of delinquent and/or overdrawn status, establishing necessary courses of action to reduce financial loss.
• Participate as needed in repossession and foreclosure actions, assisting with maintenance and legal disposition of collateral while in the credit union’s possession.
• Recommend and implement appropriate action for accounts deemed uncollectable.
• Maintain detailed records of delinquent member financial status, recording all communications and collection activity.
• Monitor paid ahead loans and maintenance accounts as needed.
• Follow up on past due loans, credit cards and overdrawn accounts, making reasonable arrangements for partial and full payments.
• Provide members with account status including balances and loan payoffs.
• Provide or send delinquent notices and form letters in support of the credit union’s collection efforts.
• Prepare bankruptcy packages for credit union attorney.
• Monitor past charged off loans and re-file…