Consumer Loan Processor

About the position

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! 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.

Responsibilities

• 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• Purges loan files by destroying out of date or unnecessary loan documents.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 the servicing of existing account relationships.
• Enters data on members and transactions to ensure accurate record keeping of all individual member account activity.

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.