SUMMARY:

• Responsible for assisting team leader(s) in supervising, coordinating and scheduling activities of team members engaged in collection activities for our company, maximizing recoveries on charged-off and delinquent loans, overseeing repossession and disposition of collateral and preparing required monthly reporting information.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES 

• Assists Payment Solutions Manager and AVP in maintaining a systematic process for identifying delinquent accounts of borrowers and establishes methods and procedures for immediately responding to delinquent situations with collection activity
• Reviews collection reports to ascertain status of collections and balances outstanding and to evaluate effectiveness of current collection policies and procedures.
• Takes action to repossess, foreclose, and take possession of collateral security involved in delinquent loans. Conducts evaluations of collateral security and arranges for the disposition of same.
• Stays current with all provisions of federal and state bankruptcy codes and regulations as well as repossession and collection laws.
• Represents the credit union in court concerning legal processes connected with collection, bankruptcy, and other creditor/debtor situations. Attends hearings concerning bankruptcy and presents testimony on behalf of the credit union.
• May be a contact with attorneys, insurance companies, collection agencies, repossession agencies and others engaged in the collections function. When appropriate, submits delinquent accounts to attorney or outside agency for collection.
• Sets up repossession of collateral through approved repossession companies. Acts as agent for credit union at various auction companies where collateral is sold.
• Reviews delinquent mortgage loans to ensure collection activity is followed as outlined in policies and procedures.
• Refers delinquent mortgages for foreclosure, as well as monitors status of each case referred to ensure process efficiency.
• Systematically monitors delinquent property taxes on all Mortgage and HELOC Loans.
• Ensures delinquent government backed mortgages are serviced as outlined in default servicing procedures.
• Ensures monthly reporting for both portfolio and government-backed mortgage loans are completed in accordance with servicing guidelines and established procedures.
• Works with third-party counsel to prepares files and represent credit union at small claims proceedings.

QUALIFICATION REQUIREMENTS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Persistence in following standard collection practices, accurately recording collection activity and file information, and maintaining a professional and positive attitude towards delinquent borrowers, and the job of collections.
• Associate's degree or equivalent from two year college or technical school; plus at least three years of related experience and/or training at a supervisory level in a financial institution or equivalent work experience.
• Ability to read and comprehend simple instructions, short correspondence, and memos and write simple correspondences, such as email, with proper grammar and spelling.
• Ability to effectively present information in one on one situations to borrowers, creditors, external credit granting organizations, and other team members.
• Must be able to use the credit union’s computer system for input/output transactions. Such usage includes, but is not limited to, retrieval of information, printing out individual statements of account, inputting data, updating information, special access to certain fields, and general maintenance of the credit and collection financial and ancillary records.
• Ability to use on-screen loan processing functionality. Ability to operate standard office machines such as a photocopier, fax machine, personal computer, and such equipment normally found in a credit union.

Michigan First Credit Union was founded more than 90 years ago by educators and delivers world-class service to more than 160,000+ members at our branches throughout the State of Michigan, and we’re still growing! We offer financial solutions for every life stage and seek to positively transform our members’ lives through personalized service that meets their unique needs.

Simply put, Michigan First Credit Union’s sole mission is to provide the highest quality member experience. Working here, you’ll get to participate in a strong culture, centered around service, professionalism, and growth.

Michigan First highlights:

• 500 team members
• 32 locations spanning the Lansing area, Grand Rapids and Metro Detroit
• Industry leader in community support and charitable giving through the Michigan First Foundation
• Member Services Call Center operates 24/7/365
• Over $1.5 Billion in assets

Awards Michigan First Credit Union has been the proud recipient of:

• 2024 Best & Brightest in the Nation
• 2024 Best & Brightest in Metro Detroit
• 2024 Best & Brightest in West Michigan
• 2024 Best Credit Unions to Work For
• 2024 Crain’s Cool Places to Work
• 2024 Detroit Free Press Top Workplaces
• 2024 Michigan Veterans Affairs Agency - Certified Veteran Friendly Employer - Bronze Level
• 2021 Credit Union of the Year by NAFCU (National Association of Federally-Insured Credit Unions)
  
  

Benefits and perks of joining our award-winning team include:

• Very competitive pay
• Low-cost medical, dental, and vision benefit options. Employer-paid life and disability insurance
• 401(k) - 100% match up to 5% deferral
• Tuition reimbursement for both Undergraduate and Graduate degree program
• Access to a complimentary concierge service that assists with nearly any item on your to-do list
• Free, state-of-the-art fitness center at our Lathrup Village headquarters with exercise equipment, showers and locker rooms
• Wellness initiatives and events throughout the year to help team members stay healthy
• Loan discounts for certain secured and unsecured loans and mortgages
• Opportunities for pay increases, incentives and profit-sharing, based on performance
• Onsite subsidized top notch Cafe 26 for team members' use
• Onsite bowling center

Michigan First Credit Union is an Equal Opportunity Employer.