Repayment Solutions Specialist

FreeStar Financial Credit Union; Sebille Manor (MI); Hybrid; Full time

Job summary

Join a leading financial institution as a Repayment Solutions Specialist, where you will help build meaningful relationships with members during financial hardships. This role requires monitoring accounts, handling collections, and ensuring compliance with national regulations for a positive community impact.

Benefits

3 weeks PTO available in the first year

401k with up to a 6% match

Up to a 5% year-end bonus

Qualifications

• One year of experience in financial industry preferred.
• Knowledge of federal regulations such as Regulation E, and BSA.
• Experience in administrative or clerical role helpful.

Responsibilities

• Monitor payments for late/delinquent status and assist members.
• Develop workout plans for overdue accounts.
• Prepare legal processes for recoveries over $6,000.

Skills

Customer Service

Communication

Problem Solving

Education

High School Diploma or equivalent

Job description

Do you have experience in collections or an administrative/compliance role? Looking to develop a career in financial services? Join our dynamic team at FreeStar Financial Credit Union!

Salary Range: $20/Hour

Job Title: Repayment Solutions Specialist

Location: Selfridge Office

Schedule:Mon - Fri (Full-Time) Hybrid Available

Benefits:

• 3 weeks PTO available in the first year
• 401k with up to a 6% match
• Up to a 5% year-end bonus

Purpose:

The primary purpose of the Repayment Solutions Specialist is to assist FreeStar Financial Credit Union in fulfilling our mission to positively impact the lives of our members, team members, and community through making meaningful connections and progressive financial solutions.

The most essential function of this position is to be responsible for building and maintaining strong relationships with members to assist them during times of financial hardship. Balancing the interests of the credit union with the needs of members who are past due is a critical skill for this position.

Essential Duties

Monitor payments for late and/or delinquency status. Collections on delinquent, high-balance and overdue credit balance accounts by phone, email, and/or letter. Ensure professional interface with affected members.

Contact high balance and/or delinquent members by telephone, email, and mail to determine the reason for balance or delinquency and assist them in developing plans to bring accounts to a current status. Develop workout plans and collections on overdue accounts wherever possible.

Notify co-signers regarding status of delinquent accounts.

Update files and system accounts via the credit union's delinquent loan recovery system.

Prepare and follow through on Legal Processes for all losses more than $6,000.00 on but not limited to Courtesy Pay, overdrawn accounts, fraud and loan losses. Act as the primary contact on legal matters.

Any other duties as assigned.

What you'll bring to FreeStar Financial

High School Diploma or equivalent.

Experience in an administrative/clerical role, or customer service is helpful.

One year of similar or related experience in the financial industry is preferred.

Must have knowledge of various federal regulations and the responsibilities relating to each act of the following:

Right to Financial Privacy Act

Regulation E (EFTS)

Regulation ZZ (Truth in Lending)

Regulation B (Fair Credit Reporting Act)

FACTA (Fair & Accurate Credit Transactions Act)

Bank Secrecy Act (BSA)