Loan Officer
General Summary
Provide information on credit union products and services to members in accordance with credit union policies and procedures and State and Federal rules and regulations. Responsible for interviewing and evaluating applicants for loans and processing various loan applications. Gather background information and analyze loan applicants’ credit history. Approve or deny loan applications based on analysis. Operate with substantial credit authority.
Duties and Responsibilities
1. Gather background information on loan applicants by interviewing loan applicants and obtaining credit bureau reports. Handle loans of highest complexity, value, or risk.
2. Assist members with the loan application process to ensure completeness of information.
3. Pull credit reports for all accounts, verify debts, estimate monthly payments for any outstanding debts not listed and add them to debts on application.
4. Calculate debt-to-income ratios on loan applicants, and calculate how much of a loan applicant’s debt is secured or unsecured.
5. Complete loan applications over the phone and/or electronically.
6. Determine collateral needs and payment plans for members applying for loans.
7. Determine eligibility of loan co-maker from co-maker’s statement and credit rating.
8. Approve or deny loan applications.
9. When a loan is denied, explain reasons for denial in a professional, courteous manner.
Work with member to provide recommendations or alternative options for other possible ways to secure a loan in future.
10. Verify the accuracy of loan amounts and repayment terms on approved loan applications.
11. Complete loan documents and disburse loans when approved.
12. Suggest and Implement new loan products and services in accordance with management direction. Cross-sell lending and other credit union products.
13. Provide financial education seminars at the different locations at NYU.
14. Conduct special accounting studies, analyses and special projects as requested by management.
15. Analyze various statistics and the use of technology in areas of operation and make recommendations for the efficient operation and growth of the Credit Union.
NOTE: The list of essential functions is not exhaustive. It may be supplemented as necessary from time to time.
Additional Functions
1. Assist the Credit Union C.E.O. in maintaining all financial, statistical, and accounting records of the Credit Union regarding the loan portfolio.
2. Administer various programs as assigned by the Credit Union President/C.E.O.
Disclaimer
The above information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job.

Job Type: Full-time

Pay: From $55,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Employee assistance program
• Health insurance
• Paid time off
• Professional development assistance
• Retirement plan
• Vision insurance

Payment frequency:

• Paid semi-monthly

Schedule:

• 8 hour shift

Work setting:

• In-person
• Office

Education:

• Bachelor's (Preferred)

Experience:

• Consumer Lending: 1 year (Required)
• Loan origination: 1 year (Required)
• Sales: 1 year (Required)

Ability to Relocate:

• Mineola, NY 11501: Relocate before starting work (Required)

Work Location: In person