Collections Representative

Think of us as a 100-year-old startup. As one of the oldest and most highly capitalized credit unions in the U.S., Liberty Bay Credit Union is arguably the best-kept secret in the financial space. We combine a century of New England stability with a fresh, high-energy purpose: to fuel the earning potential and personal ambitions of our hardworking members. We believe that advocacy, expertise, and honest guidance should be accessible to everyone. Based in Braintree, we are a member-owned, non-profit cooperative dedicated to providing work-class financial services to individuals and business members.

About the Role

Are you a results-driven collections professional who excels at finding win-win solutions? Join our team to play a vital role in protecting the credit union's financial health while maintaining strong, positive relationships with our members.
The Collections Department is responsible for the management, reporting, and recovery of outstanding debts from its members, playing a critical role in reducing borrower loan losses to the Credit Union. As a Collections Representative, you will ensure the timely and efficient recovery of outstanding debts, optimizing collections while balancing the goodwill of members with the overall business interests of the credit union.

Key Responsibilities

• Monitor payments for late and/or delinquency status. Follow up on delinquent, high-balance, and overdue credit balance accounts by phone and/or correspondence while ensuring a professional interface with members.
• Contact delinquent members by telephone and email to determine the reasons for balance or delinquency, and assist them in developing plans to bring accounts to a current status. Develop workout plans and collect on overdue accounts wherever possible.
• Notify co-signers regarding the status of delinquent accounts.
• Keep abreast of credit union collection policies and procedures as well as applicable external regulations.
• Skip trace on loan accounts as required or directed.
• Update files and system accounts via the credit union’s delinquent loan recovery system.
• Maintain detailed, accurate data for repossessions, bankruptcy files, charge-off lists, etc.
• Research payroll deductions, stops, starts, and changes as they may affect the status of a loan repayment. Status code delinquency accounts so ATM/money lines will be interrupted.
• Correct title issues and other problems both manually and in the system.
• Process and monitor GAP and VSI Claims.
• Determine when to compromise and settle balances and when to initiate repossession proceedings.
• Serve as a liaison with attorneys or agencies in handling repossessions of collateral when loan collateral should be repossessed.
• Prepare information required by collection agencies, and post receipts from collection agencies.
• Maintain credit reporting disputes.

• Experience: Minimum of two years of experience in a collections department of a credit union or financial institution.
• Regulatory Knowledge: Thorough knowledge of FDCPA, UDAAP, CFPB, TCPA, and collection best practices as they relate to a credit union.
• Core Skills: Excellent verbal, negotiation, customer service, and communication skills, with the ability to resolve challenging situations calmly and professionally.
• Work Style: Well-organized, results-driven, strong attention to detail, with solid time management skills to prioritize and balance multiple tasks and requests.
• Teamwork: Ability to work independently and in a team environment, with a desire to learn and grow.
• Technical: Strong computer skills (spreadsheets and document preparation skills required); Google Workspace preferred.

Salary Range: $43,000 - $53,000

We offer an extremely generous benefits package:

• Health care plan (Employer paid)
• Retirement plan (401k)
• Life Insurance
• Paid Time Off (vacation, sick, holidays)
• Family Leave (maternity, paternity)
• Short Term & Long Term Disability
• Training & Development
• Wellness Resources