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Collections Specialist
Lafayette Federal Credit Union Rockville, MD

Collections Specialist

Lafayette Federal Credit Union
Rockville, MD
  • Medical , Paid Time Off , Life Insurance , Retirement
  • Full-Time
Job Description
Company Info
NOTICE: JOB APPLICANTS LIMITED TO DC, MD, OR VA RESIDENTS. POSITION IS HYBRID. Please note that we are exclusively considering applicants residing in the District of Columbia, Maryland, or Virginia for all open positions.
Lafayette Federal Credit Union has earned the 2024 Top Workplaces award from USA Today!

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 our endeavor to be the premier financial partner for every one of our members.
  • Do you have excellent verbal and written communication skills?
  • Are you an independent worker?

If so, then Lafayette Federal may have the perfect opportunity for you! We are currently seeking a Collections Specialist to join our dynamic team!

About us:

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 an Collections Specialist to assist the Default Prevention and Recovery department in monitoring loans that are in default in the credit union loan portfolio as well as providing support services in managing the process of loan extensions, loan modifications and foreclosures


A day in the life of a Collections Specialist will include:
  • Independently prioritizing and executing daily collection activities; contacting members for payment via telephone and email, timely documents and maintaining collection notes and performing appropriate follow-up.
  • Monitoring and documenting all legal cases as well as tracking documentation sent to collection attorneys. Performing the appropriate follow-up with collection attorneys to ensure due diligence on all legal cases. Reviewing and updating all tracking spreadsheets.
  • Monitoring, reviewing and updating exception, delinquent and matured loan reports; ensuring timely member billing and loan payment processing.
  • Assisting in activities related to loss mitigation to include loan extensions, loan modifications and foreclosures.
  • Maintaining mortgage and consumer collection queues to ensure legal action and consumer loan charge offs are performed timely and accurately.
  • Ensuring that procedures regarding account sweeps, member notifications and collection notes are followed. Updating all member accounts within established timeframes to achieve maximum collection of past due debts.
  • Troubleshooting and resolving member and internal inquiries in a timely, friendly and professional manner. Ensuring all written and verbal member correspondence and all related information are documented and/or scanned accurately and timely into the Asset Recovery system.

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


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Lafayette Federal Credit Union job posting for a Collections Specialist in Rockville, MD with a salary of $19 to $26 Hourly with a map of Rockville location.