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Tasks
1. Gathers background information on loan applicants by interviewing them and obtaining credit bureau reports. (STAR S200)
2. Assists members with the loan application process to ensure completeness of information. (STAR S110, S200, S210, S700, S1010)
3. Pulls credit reports for all accounts, verifies debts, estimates monthly payments for any outstanding debts not listed and adds them to debts on application. (STAR S200, S210, S710, S720)
4. Enters information in automated lending product. (STAR S710, S720)
5. Calculates debt-to-income ratios on loan applicants. (STAR S720)
6. Calculates how much of a loan applicant’s debt is secured or unsecured. (STAR S110, S200, S210, S710)
7. Determines collateral needs and payment plans for members applying for loans. (STAR S710)
8. Determines eligibility of loan co-maker from co-maker’s statement and credit rating. (STAR S200, S710)
9. Approves or denies loan applications. (STAR S200, S710)
10. Explains reasons for denial, and explores options for members when loans are denied. (STAR S 20, S200, S210, S710)
11. Provides credit counseling. (STAR S1301)
12. Verifies the accuracy of loan amounts and repayment terms on approved loan applications. (STAR S200, S710)
13. Completes loan documents and disburses loans when approved. (STAR S200, S710)
14. Implements new loan products and services in accordance with management direction. (STAR S120, S1303) (MERIT M23M)
15. Presents loan application and supporting information to credit committee as needed. (STAR S200, S710)
16. Cross-sells lending products. (STAR S120, S820, S1120, S1303) (MERIT M29M)
17. Trains new loan officers. (STAR S1020)
18. Provides assistance or guidance to more junior loan officers. (STAR S1020)
19. Ensures that the credit union is in compliance with the federal laws and regulations. (STAR S210, S1100, S1302)
Knowledge of…
• Applicable laws and regulations (RegTraC Module 3) (Frontline Boot Camp Part 2)
• Compliance procedures
• Credit union and financial industry competition
• Credit union products and services
• Procedures relating to loan processing
• Eligibility requirements for a co-maker
• Financial resources
• How to complete the loan documents
• The lending process
• The automated lending products
• The credit union’s computer system
• The credit union’s criteria for approving loans
• The required documentation
• The various credit bureaus and their procedures
• What makes a loan secured or unsecured
• What the supervisory committee needs in order to make loan decisions
• Which of which information to collect from the member
Skills in…
• Analyzing information
• Assessing needs
• Building rapport
• Bundling appropriate products
• Communicating in writing
• Communicating verbally
• Designing instructional materials
• Developing a budget with member
• Facilitating
• Gaining member’s commitment
• Giving feedback in a positive way
• Helping members set financial goals
• Identifying member needs
• Interviewing
• Listening
• Making decisions
• Motivating
• Negotiating
• Organizing
• Overcoming member objections
• Paying attention to detail
• Performing math calculations
• Presenting
• Proofreading
• Reading and interpreting credit bureau reports
• Researching information
• Showing a positive attitude
• Solving problems
• Using telephone etiquette
Behavior
• Assertiveness
• Confidence
• Flexibility
• Friendliness
• Helpfulness
• Patience
• Persuasiveness
• Supportiveness
• Tactfulness
• Thoroughness
• Trustworthiness
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