Loan Officer Job Description printable pdf download

Loan Officer Job Description

As the first community credit union to serve Queens in over three decades, ERDA FCU

located in Long Island City will work with a strong team ethic in conjunction with ERDA

staff to achieve our mission. The credit union needs an individual dedicated to its mission

and enthusiastic about our success!

ERDA FCU will over time have a profound effect on actual and perceived economic

opportunity for its members by coupling affordable and relevant financial services,

ownership stakes, and high-impact financial education and coaching. ERDA FCU is a

federally chartered, fully insured, cooperative financial institution to serve members who

live, work, volunteer or attend house of worship, organization or school based in Astoria,

Long Island City, Sunnyside and Woodside.

Loan Officer Responsibilities

•

Research market segment potential for loan products and develop targeted

marketing plan to reach potential loan customer segments

• Actively market credit union loan products including personal, auto, and

business loan offerings to achieve aggressive goals

• Analyze marketing strategies to adapt and adjust them to improve results

• Interview loan applicants; obtain all of the necessary documentation to review and

make the loan decision

• Provide information to the membership/applicants concerning the different types

of loans offered, the terms and interest rates, and the documentation needed to be

considered for a loan.

• Underwrite loans based on established guidelines in Loan Policy. Approve loans

that meet policy guidelines, within authorized limits and established timeframes.

• ·Make alternative recommendations to borrowers that are creditworthy but do not

qualify for the loan they requested.

• Ensure all declined loan requests are properly documented for review by the

Branch Manager

• Coordinate the preparation and issuance of adverse action letters to Members.

• Timely review and analysis of information resulting from staff input, verification

and maintenance for all loans being processed. Assist Member Service

Representatives in preparing loan documentation for all approved loans.

Loan Officer Job Description