The Loan Officer is responsible for a high volume of consumer loan applications from current and new members. Communicates effectively with applicants through email and phone. All applications come through phone, internet, or mobile delivery channels. Sales goals for each loan officer are based on loan production ratios as well as product sales in relation to loan volume. The Loan Officer is also responsible for opening new memberships, checking accounts, credit cards, and having a strong knowledge of all credit union products and services to answer any member questions. Loan Officers are expected to build lasting professional relationships with their members.
Duties and Responsibilities
- Inputs accurate and descriptive consumer loan applications by strong interviews with applicants.
- Communicates well with underwriters and loan applicants to help in the decision-making process.
- Ability to fluently read all credit bureaus to find any opportunities to sell NCU loans that will benefit the member.
- Undercover any fraud attempts through thorough loan interviews and verification of necessary information on an as needed basis.
- Consistently meet high volume of loan production and product sale goals.
- Obtain a strong knowledge of all credit union products to be prepared to assist members in any way necessary.
- Open new memberships and checking accounts.
- Build strong relationships with each member in an effort to get repeat business and referrals of friends or family.
- Understand and efficiently use all necessary software including the core system, loan origination system, email, and phone systems.
- Coach members through the car buying process to avoid unnecessary fees from dealers.
- Clearly communicate declined loan applications to members and help them understand how to obtain a future approval.
- Follows all policies and procedure regulated by the credit union as well as governmental policies and procedures.
- Performs such other functions that might be needed from time to time and assists others to complete tasks and work assignments.
Knowledge and Requirements
- High school diploma or equivalent (GED)
- One to two years previous related experience or equivalent combination of education and experience, primarily derived from prior experience working in a lending environment
- Excellent verbal communication skills
- Ability to cross-sell credit union products and services
- Ability to define problems collects data, establish facts and draw valid conclusions
- Ability to calculate figures and amounts such as interest, percentages, ratios and basic algebraic expressions