Collector

University of Michigan Credit Union; Ann Arbor (MI); On-site; USD 40,000 - 60,000; Full time

Benefits offered by this job

Medical benefits

Dental benefits

Vision benefits

Tuition reimbursement

Student loan debt repayment

401(k) with employer match

Parental leave

Home office credits

Job summary

University of Michigan Credit Union is seeking a Collector to manage delinquent and charged-off loans and accounts. You will contact members, assess payment plans, and coordinate account restrictions with confidentiality and professionalism.

The role requires strong communication skills and experience in collections, with access to comprehensive benefits and a flexible work environment.

Qualifications

• Associate's degree or 3+ years financial institution or collection experience preferred.
• Strong verbal and written communication skills are essential.
• Ability to handle confidential information with discretion and professionalism.

Responsibilities

• Contact members by phone, mail, or email to understand delinquency and develop a payment plan.
• Notify co-signers/co-makers about delinquency status and needed actions.
• Initiate account restrictions to encourage payment or arrangements.

Skills

Verbal and written communications

Microsoft Office proficiency

Team player with high energy

Discretion with confidential matters

Education

Associate's degree

Tools

Microsoft Office Suite

Job description

UMCU is currently searching for a bright, professional and friendly Collector to assist in all aspects of collection activities, including delinquent and charged-off loans and shares, NSF checks, and courtesy pay accounts that are not in compliance with program limitations. The Collector is also responsible for related legal action, settlement and debt workout situations, and possible restriction of services related to delinquent accounts.

Why join the UMCU Team?

• Work with a high energy and collaborative group of supportive professionals.
• We are committed to helping you own your career and grow professionally and personally.
• Comprehensive benefits including low cost/high coverage medical, dental, vision, leave of absence and more!
• Very generous paid time off and a very flexible work environment to help you find just the right work-life balance.
• Tuition reimbursement and a student loan debt repayment program
• Our Fidelity 401k program with employer match is one of the most generous you'll find.
• From our parental leave, to pet insurance and home office credits, our benefits package is one of the best you'll find!

What will you be doing in this role?

• Contacts members by telephone, letter, e-mail or in person to determine the reasons for the delinquent account and to assist the member in developing a plan to bring the account current
• Ensures that co-signers and co-makers are promptly and continuously notified on the status of a delinquent account and provides notification as needed.
• Initiates appropriate account restrictions to encourage the member to contact the Credit Union to make a payment or payment arrangements
• Evaluates delinquent loan accounts and determines possible actions to assist member in repaying their obligations as agreed. This may include financial counseling, evaluating credit reports, and
• Maintains high level of professionalism in regard to confidentiality and service in collection efforts
• Monitor Fraud Software
• Determines appropriate action to take for skip traces, legal filings (Small Claims and General Civil), repossessions, collection agencies, collateral protection insurance, titles related to secured collateral and bankruptcy processing following UMCU guidelines. Initiates and follows-through on any action taken on the assigned accounts.
• Serves as UMCU representative in court hearings as assigned. Prepares any accounts to be recommended for charge-off
• Continues collection efforts on previously charged-off loans
• Assists in providing training to other department team members
• Demonstrates responsibility for security of member information
• Contributes to the improvement of credit union processes and procedures
• Provides reports of collection activities
• Maintains knowledge of laws and regulations affecting financial institutions policies and procedures
• Volunteers in various activities sponsored by UMCU within the University of Michigan and Ann Arbor communities
• Maintains knowledge of and follows all credit union policies and procedures regarding BSA, OFAC, U.S. Patriot Act, Anti-Money Laundering, S.A.F.E Act, CFPB regulations and Customer Identification Program BSA/etc.
• Other duties as assigned

What you will need for this role:

• Associate's degree, or a minimum of 3 years financial institution or collection agency experience is required
• 1 year of collection experience is desirable
• Sensitivity to confidential matters and ability to exercise discretion
• Proficient in Microsoft Office – Word, Excel, PowerPoint and Outlook
• Strong verbal and written communications skills
• Must be a team player and possess a high energy “can do” attitude

Physical Demands/Work Environment

• The environment is typical of an office atmosphere. The noise level in the environment is usually moderate
• While performing the duties of this job, the team member is frequently required to sit; use hands to finger, handle, or feel; and talk or hear. The team member is required to stand, walk, and reach with hands and arms. The team member must occasionally lift and/or move up to 20 pounds. Specific vision abilities required by this job include close vision