Consumer Loan Processor

Mayo Employees Federal Credit Union (MEFCU) is looking for someone with a knack for fine details, a collaborative approach, and a passion for providing top-notch service to join our team as a Consumer Loan Processor!

Department: Consumer Lending
Days of Work: Monday - Friday 8 AM - 5 PM; occasional Saturday morning hours (approx. every 5-6 weeks)
Starting salary range: $22-$23 per hour based on experience
Location: Rochester, MN
FLSA Status: Nonexempt
Schedule: Full time
Hours/Pay Period: 80
Remote Worker: No

A Consumer Loan Processor assembles and verifies the accuracy of credit union documentation for various types of consumer loans. They check loan documents for completeness, input data into the appropriate software system and prepare consumer loan papers and disbursements for member signature.

Duties and Responsibilities
Processes consumer loans and ensures accuracy and completeness:

- Accurately and efficiently processes all supporting documentation for approved and/or unapproved loans.

- Ensures that each loan is processed accurately by ensuring loans are properly documented, closed, disbursed, and filed.

- Completes documentation to secure the credit union's interest in loan collateral.

- Reviews all disbursed loan files by checking for necessary paperwork, signatures, notices, and computer information such as interest rates, loan type, collateral, payment, etc.

- Disburses checks, drafts, and vouchers on approved loans.

- Analyzes individual title problems and suggests solutions.

- Verifies insurance on property taken as collateral on loan files.

- Maintains loan files by filing loan folders and supporting documents.

- Purges loan files by destroying out of date or unnecessary loan documents.

- Maintains monthly production records of loans funded by loan officer and type of account.

- Compiles reports and notices for Credit Committee and Board of Director meetings.
Assists members with account maintenance needs:

- Assists members with the servicing of existing account relationships.

- Enters data on members and transactions to ensure accurate record keeping of all individual member account activity.
Requirements
Education and Experience Requirements
A high school diploma or equivalent AND one year of experience working in a financial institution.

All employees must be bondable by MEFCU’s insurance policy. Continued employment is subject to maintaining favorable bondable status per insurance standards.

Knowledge, Skills, and Abilities
Employees in this position are expected to possess and demonstrate the following knowledge, skills, and abilities throughout their employment:
Knowledge of: credit union philosophy and operations procedures, rules and regulations governing Consumer Credit
Skill in: keeping current on economic environment factors that may impact lending, interpersonal communication, organization, time management
Ability to: handle multiple tasks simultaneously and accurately, prioritize, work independently and as part of a team

Physical and Environmental Criteria
This physical effort required to perform this position is best described as: Sedentary. Exerting up to 10 pounds of force occasionally and/or a negligible amount of force frequently or constantly to lift, carry, push, pull or otherwise move objects, including the human body. Sedentary work involves sitting most of the time. The majority of this position involves computer work, which requires fine dexterity in the continuous movement of the wrist and fingers.
Sensory requirements necessary in the performance of the essential functions of this position include: sight, hearing, touch.
Environmental conditions that may exist in the performance of the essential functions of this job include: None.

Why Mayo Employees Federal Credit Union?
Our mission of caring for our members drives what we do every single day.  Join our team and build your career in an environment where your work is valued, and you can make a difference in the lives of our members.
The Mayo Employees Federal Credit Union offers fantastic benefits, including:

- Affordable Medical Plans

- Six Paid Holidays and Generous Accrued Paid Time Off Plan

- Employer-Paid Life and AD&D Insurance (additional voluntary coverage is available for employee purchase too!)

- Employer-Paid Short and Long-Term Disability Insurance

- Employer-Paid Health Reimbursement Account or Health Savings Account contribution

- 401k Plan with Generous Employer Match

- Tuition Assistance

- Flexible Spending Accounts

- Employer-Paid Identity Theft Insurance

- Employee Assistance Program

- Voluntary Accident and Critical Illness Insurance

- Discounted Pet Insurance Program