Consumer Loan Processor
Lafayette Federal Credit Union
Location: Rockville, MD
Welcome to Lafayette Federal Credit Union Careers! Our organization is growing, and we are seeking top-notch individuals to provide support to our members. Our employees are a critical component in in our endeavor to be the premier financial partner for every one of our members.
- Do you have knowledge of lending procedures?
- Do you have great attention to detail, and effective communication skills?
If so, then Lafayette Federal may have the perfect opportunity for you! We are currently seeking a Consumer Loan Processor to join our dynamic team!
Our Difference: What makes Lafayette Federal cutting-edge? Lafayette Federal Credit Union is not only a great place to bank, but also a great place to work! We have been recognized nationally by (1) Newsweek’s America’s Best Bank’s list, (2) we’ve received a 5-star rating from Bauer financial, and (3) we’ve also ranked #12 in S&P Global’ s Top Performing Credit Union’s in 2022 for the second year in a row!
Our Culture: Lafayette Federal is about inclusion, diversity, high performance, and new opportunities. Teamwork and our sense of community also make Lafayette Federal a great place to work. Each person is valued for his or her unique set of skills. We share a common devotion to the people we serve, participating in charity events throughout each year and giving back to the community.
Our Opportunities: Professional development, training, and certification is a priority for our employees. We want you to reach your career goals and provide support that leads to opportunities of advancement within the industry.
About the role:
We are currently seeking a Consumer Loan Processor for our Consumer Lending Department. Summarily, the Consumer Loan Processor, while under the general supervision of the VP of Consumer Lending, will be expected to follow established policies and procedures while providing administrative support to the processing, closing and post-closing activities of the Consumer Lending Department based in Rockville, MD.
Education & Experience
- Three years to five years of similar or related experience.
- A high school education or GED.
A day in the life of a Consumer Loan Processor will include:
- Performing a variety of consumer loan support duties such as calculating cash disbursed figures, verifying payroll deduction forms, processing loan payment change forms and issuing loans, etc.
- Providing information to members via telephone or in person on loan options, rates, terms, and collateral requirements. Informs the member of all necessary information/documentation required to complete a consumer loan application.
- Reviewing consumer file to verify that all required documentation has been received; follows up and requests missing information; analyzes and pre underwrites the information gathered based on credit union policy; prepares file for review by reconciling the income, appraisal value, credit history; determines the terms and conditions of the loan.
- Preparing loan closing documents and schedule and executes closing of loans. May calculate loan amount and disburse funds for settlement.
- Performing quality control on all consumer loans and ensures that they are in compliance with all applicable external and internal regulations.
- Being responsible for the thorough knowledge of consumer loan products, policies and procedures
Top benefits or perks:
Joining Lafayette Federal comes with perks to support you in your personal and professional journey.
We provide employees with a generous benefits package including:
- Employer paid (99.9%) health insurance premium for single and family coverage (HMO Plan)
- Fully funded deductible (HMO Plan)
- 401k employer matching contribution
- Income protection with life insurance, short and long-term disability
- Paid time off & holiday leave
- Educational assistance
- Commuter benefits program and more!
The job posting highlights the most critical responsibilities and requirements of the job. It is not all-inclusive. There may be additional duties, responsibilities, and qualifications for this job.
*Lafayette Federal Credit Union is an Equal Opportunity and E-Verify Employer
How to Apply
Please apply through our career page using the following link: https://www.lfcu.org/careers/
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