Collections Specialist

General Electric Credit Union; Cincinnati (OH); On-site; USD 38,000 - 56,000; Full time

Benefits offered by this job

Health/Dental/Vision insurance

Life and Disability insurance

401k with match

Tuition reimbursement

Volunteer opportunities & PTO

On-site clinics

Job summary

General Electric Credit Union in Cincinnati, OH seeks a Collections Specialist to contact members with delinquent balances and negotiate payment solutions while adhering to FDCPA guidelines.

You will manage account activity across systems, determine payment abilities, and process diverse payments, ensuring accounts move back to good standing. A one-year collections background is preferred. Join a member-focused team in a supportive workplace.

Qualifications

• High school diploma or GED required; college degree preferred.
• Minimum one year of collections experience required.
• Knowledge of FDCPA and consumer loan, credit card, or student loan products preferred.

Responsibilities

• Collect delinquent payments 30+ days past due following FDCPA.
• Contact members via email or phone; update contact information as needed.
• Document account activity and interactions in systems for internal/legal use.
• Assess status (bankruptcy, repossession) to determine payment ability.
• Arrange mutually acceptable payment plans to bring accounts current.
• Process payments from various sources (internal transfers, card payments, checks).
• Send communications to members about changes in terms of payment arrangements.
• Maintain and update account details; complete required paperwork.
• Flag accounts for potential legal/repossession actions with oversight.
• Collaborate with team members and participate in cross-training.

Skills

Communication

Interpersonal skills

Attention to detail

Negotiation

Analytical thinking

Multitasking

System proficiency

Education

High school diploma or GED

College degree preferred

Tools

Microsoft Office

Credit Union systems

Job description

Primary Duties And Responsibilities

General Electric Credit Union is a not-for-profit, member-owned full service financial institution headquartered in Cincinnati with branches in Ohio and Kentucky. At GECU, we pride ourselves on maintaining quality service, being an employee-friendly workplace, and developing our team members while teaching you the skills to lead you to career advancement opportunities.

Overview

The Collections Specialist works to connect with members that have outstanding balances owed to the credit union to provide payment solutions and remedy delinquency on accounts, providing a high-level of member support.

Essential Responsibilities

• Collect delinquent payments on installment loans, lines of credit, and credit cards that are 30+ days past due following the guidelines set forth in the Fair Debt Collections Practices Act (FDCPA)
• Contact members with delinquent accounts via email or phone, utilizing basic skip tracing techniques to find additional or updated contact information when members fail to respond
• Document account activity and member interactions using the appropriate systems for both internal and legal purposes
• Interpret information from multiple systems to determine member status (i.e., special statuses such as bankruptcy or repossession) and ability to make payments on delinquent accounts
• Work with members to establish mutually acceptable payment arrangements to bring delinquent accounts back into good standing
• Process payments for delinquent accounts by processing internal transfers from deposit accounts, debit or credit card payments, or check-by-phone payments
• Send out appropriate communications to members by email or mail for a change in terms of the original payment arrangements
• Facilitate internal maintenance on accounts such as updating addresses, correcting account issues, and revocation of credit cards by completing the appropriate forms and internal paperwork
• Review member accounts to determine the need for legal/repossession actions with oversight and management review
• Collaborate with and assist internal team members with delinquent accounts via internal communications and phone
• Participate in cross-training activities to help support the department as necessary

Education And Experience

• High school diploma or GED required; college degree preferred
• Minimum one year of collections experience required
• Experience working with consumer loan, credit card, and/or student loan collections preferred
• Basic understanding of collections operations, Fair Debt Collection Protection Act (FDCPA), and products relevant to the job

Knowledge, Skills, And Abilities

• Strong verbal and written communication skills to clearly communicate consequences of delinquent accounts to members through multiple channels
• Good interpersonal skills to be both fair and clear with members while remaining composed, friendly, and empathetic
• Attention to detail when keeping records of member interactions and reviewing notes
• Proficient at negotiating to establishing payment arrangements that are agreeable to both parties involved
• Strong analytical and problem-solving skills in order to analyze financial data
• Ability to work in a fast-paced environment
• Effective at multi-tasking to handle incoming calls, internal communications, and other tasks
• Ability to learn and maintain proficiency in multiple computer systems including Microsoft Office products and Credit Union systems

At GECU, we want to support your wellbeing by offering a wide range of benefits:

• Health, Dental and Vision insurance
• Life and Disability insurance options
• Paid Time Off starts accruing once hired and take your birthday off – paid
• 401k Retirement plan with up to a 10% match of your base gross compensation
• Tuition reimbursement opportunities & professional development
• Volunteer opportunities -and earn additional PTO hours!
• On-site clinics for Vaccines and Mammograms

And many more!

Come join GECU as we are a curated culture of respect, understanding, and mutual recognition. We believe forming bonds and connecting with each other only stands to strengthen the service we provide to our members in our mission of improving the Quality of Financial lives!

General Electric Credit Union is an Equal Opportunity Employer