Consumer Loan Processor

Diversified Members Credit Union; Detroit (MI); On-site; USD 25,000 - 32,000; Full time

Benefits offered by this job

Health insurance

Vision insurance

Life Insurance on day 91

Paid time off (PTO)

Paid holidays

Mental Health days

Tuition reimbursement

Birthday day

401K matching

Job summary

Diversified Members Credit Union in Detroit, MI is seeking a Consumer Loan Processor to efficiently review applications, gather documentation, and ensure compliance with lending policies. You will coordinate with loan officers, members, and staff to move loans toward timely closings and disbursements.

This onsite full-time role requires attention to detail, strong communication, and the ability to handle complex files while maintaining member service excellence across our community.

Qualifications

• High School Diploma or equivalent.
• Minimum 2 years of consumer lending experience or related field.
• Proficient with Microsoft Office Applications (Word, Excel, Outlook).
• Adept in Lending and Servicing software and applications.
• Strong attention to details and documentation.
• Experienced in loan products, processing, and lending compliance requirements.
• Strong verbal and written communication skills.
• Must be dependable and willing to work additional hours when necessary to serve both internal and external members.
• Ability to work in a demanding environment while meeting deadlines and turn times.
• Completion of all required compliance and information security training annually

Responsibilities

• Reviews loan applications and documents; ensures Loan Officers decisions are followed, gathers necessary documentation and coordinates closing schedules.
• Meet with members to support application intake via in person or by telephone and cross-sell credit union products.
• Provide members with prompt and responsive service by actively monitoring incoming calls in the queue.
• Ensure all lending activities comply with internal policies and relevant regulations.
• Maintain quality loan documentation including income verification and lien perfection.
• Monitor LOS queue management and document follow-up efforts.
• Support lending initiatives, promotions, and objectives to meet loan growth goals.
• Conduct loan file quality reviews for accuracy and timelines.
• Mentor, support, and cross train team members as requested.
• Maintain DMCU service standards during calls or appointments.

Skills

Customer service

Lending knowledge

Attention to detail

Verbal & written communication

Team coordination

Education

High School Diploma or equivalent

Tools

Lending software

Job description

Company: Diversified Members Credit Union

City: Detroit

State: MI

About DMCU

Diversified Members Credit Union (DMCU) is a member-focused financial institution dedicated to providing exceptional financial services and lending solutions to our community. Our mission is to empower our members through personalized service and innovative financial products.

Summary

The Consumer Loan Processor is responsible for efficiently processing consumer loan applications, ensuring all underwriting conditions are addressed, and that loan documentation is complete and accurate. This role involves coordinating with loan officers, management, other credit union team members, and members to facilitate timely closings and disbursements. The Loan Processor plays a key role in maintaining compliance with internal policies and procedures and enhancing the overall member experience.

* This position is an ONSITE position located at our Detroit branch! *

Primary Responsibilities

• Reviews loan applications and documents; ensures Loan Officers decisions are followed, gathers necessary documentation from members such as financial statements, payoffs, lien perfection documents, and coordinates closing schedules with members or other credit union colleagues.
• Meet with members to support with application intake process via in person or by telephone and cross sell/refer credit union products and services to meet members financial needs.
• Provide members with prompt and responsive service by actively monitoring and answering incoming calls in the call queue.
• Ensure all lending activities and processes are conducted in accordance with internal policies, procedures, guidelines, and comply with relevant state and federal regulations.
• Maintain quality loan documentation (loan notes) including verification of income, lien perfection secured, and ensuring loans are disbursed accurately and required documents are signed.
• Proactive in monitoring the loan origination system (LOS) queue management ensuring all applications requiring follow-up or member contacts are reviewed and contact efforts documented.
• Supports Lending initiatives, promotions, and objectives to meet loan growth goals.
• Conducts loan file quality reviews for accuracy, timelines, and adherence repayment terms as decisioned by the Loan Officers.
• Mentor, support, and cross train team members or other credit union staff as requested.
• Ensure DMCU service standards are maintained during every call or appointment, addressing internal and external member needs with professionalism and empathy.
• Perform all other duties as requested by management to support the needs of internal and external members.

Requirements

• High School Diploma or equivalent.
• Minimum 2 years of consumer lending experience or related field.
• Proficient with Microsoft Office Applications (Word, Excel, Outlook)
• Adept in Lending and Servicing software and applications.
• Strong attention to details and documentation.
• Experienced in loan products, processing, and lending compliance requirements.
• Strong verbal and written communication skills.
• Must be dependable and willing to work additional hours when necessary to serve both internal and external members.
• Ability to work in a demanding environment while meeting deadlines and turn times.
• Comply with the “Employee Expectations Agreement”
• Comply with the “Management Expectations Agreement”
• Completion of all required compliance and information security training annually

Working Conditions

• Ability to lift 10-15 pounds.
• Ability to sit for long periods of time.

Compensation

The hourly range for this position is $18-$23/hour, depending on experience, qualifications, skills, and relevant expertise. The final compensation offer will be based on the candidate’s experience, qualifications, and overall fit for the role.

• 90% Company-paid health and dental insurance
• Up to 85% company paid vision insurance
• Company paid life Insurance on your 91st day
• Up to 10 days of PTO within your first year after 90 days of employment
• 15 paid holidays
• 2 Mental Health days after 90 days of employment
• Tuition reimbursement up to $3,500 annually
• 1 Birthday Day after 1 year of employment
• 401K: DMCU will contribute 6% of your creditable compensation and will match 100% up to 2% of your income

This position is an onsite full-time role reporting to our Assistant Credit Manager at our Detroit Main branch location.