Collections Officer 1

Cyprus Credit Union; Midvale (UT); On-site; USD 42,000 - 54,000; Full time

Benefits offered by this job

Health insurance

Dental insurance

Life insurance

Vision insurance

401k

Paid holidays

Birthday leave

Paid time off

Volunteer time

Tuition reimbursement

Job summary

Cyprus Credit Union is seeking a Collections Officer to manage delinquent member accounts across various loan products. You will contact members, discuss payment arrangements, and apply collection procedures while maintaining the Credit Union's professional image.

We offer competitive pay and comprehensive benefits, plus opportunities for advancement, career development resources, and a collaborative work environment that values diversity and community involvement.

Qualifications

• Knowledge of collection procedures and related laws.
• Understanding of Credit Union loan products and policies.

Responsibilities

• Follow up on delinquent accounts by phone and mail to secure payment arrangements.
• Notify members of potential actions and explore financial counseling options.
• Document all collection actions and maintain confidentiality.
• Monitor loans to ensure proper insurance coverage and compliance.

Skills

Accuracy

Communication

Independence

Stress management

Education

High school diploma or equivalent

Job description

We are hiring a Collections Officer. Are you passionate about customer service and have a strong work ethic that embodies what credit unions stand for? Are you interested in starting a career with an exciting and respected financial institution that offers opportunities for comradery, professional growth, and advancement? If so, please read on!

The future of Cyprus Credit Union is only as bright as our team. We employ a team of like-minded banking professionals. In order to attract and retain quality talent, we offer competitive pay, and comprehensive benefits, provide opportunities for employee advancement, share resources for career development, and encourage a work-hard/play-hard lifestyle. Additionally, we value diversity, volunteering for our communities and taking steps to do our part in reducing our carbon footprint.

As a Collections Officer, you will earn a competitive pay depending on your experience and qualifications with the opportunity for bonuses and incentives. Pay increase for English/Spanish speaking. We also offer both our part-time and full-time member services employees the following comprehensive benefits:

• Health, dental, life, and vison insurance plans
• 401k and retirement savings plan
• 12 paid holidays
• Paid day off for your birthday
• PTO that will start accumulating on day one
• Earn additional PTO when you volunteer in the community
• Competitive tuition reimbursement

Due to our "Most loved" atmosphere, Cyprus Credit Union was named one of the BEST credit unions to work for from 2020 to 2025!

A DAY IN THE LIFE AS A COLLECTIONS OFFICER

This position is responsible for performing collection activities associated with various delinquent member accounts, including Visa credit and debit cards, lines of credit, secured loans, signature loans, real estate loans, and home equity lines of credit. Reviews delinquent accounts, determines probable reasons for account status, and contacts members to resolve the delinquencies. Utilizes various techniques, as circumstances indicate, to promptly collect on delinquent accounts. Ensures that the Credit Union's professional image is maintained. This Position will be responsible for Performing the following duties:

• Receives delinquency reports from the computer system and verifies the status of the loans.
• Follows up on delinquent accounts by telephone, personal contact, and correspondence to secure a satisfactory resolution to the repayment problem. Discusses possible financial arrangements, informs members of potential legal actions, and suggests financial counseling to arrive at suitable payment arrangements. Continues to collect until loan becomes a write-off, bankruptcy, or attorney account. Makes early contact with members and co-makers to collect and keep them informed of loan status. Makes effective use of collection tools including daily suspense and delinquent loan activity reports.
• Utilizes effective human relations skills and various forms of persuasion to present a positive Credit Union image in an already negative situation. Calms irate members and answers member questions and complaints relevant to Department functions. Determines reasons for delinquencies and works toward permanent solutions. Minimizes losses by early actions.
• Posts approved extensions and notifies member of new due date by mail.
• Monitors loans to ensure members have adequate insurance coverage to protect collateral and the Credit Union's interests.
• Documents all collection actions taken, including telephone conversations, alternative financial arrangements, and correspondence on computer.
• Keeps accurate and up-to-date activity reports on late, potentially late, and delinquent loans.
• Recommends possible charge-offs. Researches and prepares the Write-off Summary Sheet.
• Maintains member confidentiality.

Education

• High school graduate or equivalent.

Required Knowledge

• Knowledge of collection procedures and related laws and regulations.
• Understanding of Credit Union loan products and policies.

Experience Required

• Previous collection experience with full-service financial institution helpful.

Skills/Abilities

• Accuracy and thoroughness in work.
• Excellent communication, telephone, and public relations skills.
• Ability to work well independently
• Ability to work well in stressful situations.

BANKING WORK SCHEDULE FOR A COLLECTIONS OFFICER 1

This full-time Collections Officer 1 position in member services has a shift of: Monday-Friday from 8:30 AM – 5:30 PM, with rotating late-shifts from 10:00 AM - 7:00 PM. This position also requires rotating Saturdays from 9:00 AM - 3:00 PM.