Consumer Loan Specialist bei Financial Resources Federal Credit Union

Financial Resources FCU has been designated one of the Best Places to Work in NJ since 2022! At FRFCU, we are "putting people first" and that starts with our employees! Come see why our team members have voted us for Best Places to Work in NJ for 3 consecutive years! 

Financial Resources is a not-for-profit federal credit union with locations in Somerset, Hunterdon, Middlesex, Hudson and Union Counties. With a history of serving our members for more than 100 years, we have grown to more than $650 million in assets serving more than 29,000 members with 6 public access branches and a team of 100 employees. We are available Nationwide! 

Financial Resources Federal Credit Union (FRFCU) is looking for a Consumer Loan Specialist to join our Consumer Lending team in making a difference in peoples’ lives.

This role processes and funds consumer loan applications to the member’s complete satisfaction while simultaneously ensuring that supporting documentation is accurately prepared according to FRFCU policies and appropriate federal regulations. Funding goals are met with minimal errors and loans are processed in a timely fashion. The Consumer Loan Specialist demonstrates a highly motivated, positive, outgoing personality with a strong emphasis on sales and results orientation to ensure the credit union maximizes lending and sales opportunities with members and all touch points for all whom apply for credit over the phone and electronically. Consistently demonstrates the ability to think independently by effectively responding to each individual member’s unique situation.    

We are looking for someone who exemplifies the following traits:

• Caring
• Initiative
• Ethics
• Job Knowledge
• Self-Development
• Teamwork
• Productivity 
• Quality
• Communication
• Sales Goals

Some of your essential duties will include, but are not limited to: 

• Collect information including verifications of membership, income documents, credit reports and, if applicable, property valuations, property searches, flood searches and evidence of hazard insurance. Use analytical ability and judgement to determine the acceptability of the information. 
• Utilize the Meridian Link Loan Operating System to its fullest extent, ensuring its completion and accuracy so that all communication and documentation provided to a member is accurate, professional, and compliant. 
• Works closely with the Underwriting team to determine the documentation necessary to complete the application and convey those needs successfully to the applicants. 
• Explain loan process to the members and respond to questions throughout the process.
• Follow up with members who have been approved for a loan to ensure all disclosures are received and reviewed in a timely manner.
• Confirm final details of loan terms and package loan documents. Coordinate closings via electronic channels or in branch.
• Ensure all loan documents are completed in their entirety and book loans to the Core database.
• Perform post-closing functions to include funding; booking; ensuring the accuracy of loan documentation and the information in the core; recording of lien documentation. 
• Evaluate and structure consumer loan and home equity products including assisting branch and Member Service Center with questions.
• Reviews and analyzes consumer loan and credit card applications and credit reports to identify cross-sell, up-sell or loan recapture opportunities, and then effectively sell the products or services to the member, along with loan protection services, if applicable.
• Provide a high level of customer service to internal and external customers by providing guidance to prospective borrowers, providing professional, prompt, accurate and efficient responses to member inquiries.
• Meet minimum sales goals to help department meet overall loan growth targets, as well as loan protection goals.
• Educate credit union members on Loan Protection Products including Debt Protection, GAP Insurance and Mechanical Breakdown.
• Maintain a minimal error rating

Other Duties

• Perform filing, scanning, indexing and other general documentation retention tasks as directed
• Effectively manage daily workflow
• Demonstrate comprehensive knowledge of consumer lending products, services and processes
• Provide an excellent member experience by relating well to the member, thinking and exercising sound judgement and acting responsibly in the member’s and the Credit Union’s best interest
• Respond to requests submitted by employees, providing professional, prompt, efficient and accurate service and information
• Keeps abreast of current NCUA/CFPB guidelines and other applicable state and federal laws and regulations. Attend seminars and/or training sessions relating to areas of responsibility
• Assist in training new employees as needed

What we offer to our team members:

• Work Life Balance Programs that includes a 4 Day Work Week and Hybrid work environment after satisfactory completion of your training period
• A competitive salary 
• Generous paid time off 
• Health, dental and vision plans for employees and their families
• Health Savings and Flex Spending Accounts
• Paid Parental Leave Programs
• Short and Long-Term Disability Programs
• Company provided life insurance and low-cost supplemental insurance plans
• 401K with 100% employer match, up to 6%, after one year and potential for additional profit-sharing contributions
• Paid volunteer days
• Opportunities for career advancement with continuous learning and development 
• Tuition reimbursement

We ask that you have:

• High School Diploma or equivalent required.
• Prefer a minimum of two years consumer lending experience.  
• One year of experience in a sales environment preferred.   
• Must be thoroughly knowledgeable of FRFCU’s consumer lending policies and procedures, products and services, laws and regulations.   
• Excellent sales and interpersonal skills required.
• Requires knowledge of loan decisioning rules and policies.
• Requires working knowledge of state and federal lending regulations to ensure compliance.
• Demonstrates an unsurpassed commitment to exceptional member service and teamwork.
• Is able to clearly and effectively communicate with members and all levels of staff in oral and written form and is proficient with applicable technology.
• Fluency in Spanish is preferred.  
• Experience utilizing the Microsoft Office Suite and Meridian Link, preferred

If you want to work in a friendly environment and with an organization that is looking to expand its footprint, please consider applying for this opportunity.