Loan Processor Salary at Suffolk Federal Credit Union BETA
How much does a Suffolk Federal Credit Union Loan Processor make?
As of December 2024, the average annual salary for a Loan Processor at Suffolk Federal Credit Union is $44,336, which translates to approximately $21 per hour. Salaries for Loan Processor at Suffolk Federal Credit Union typically range from $39,953 to $49,026, reflecting the diverse roles within the company.
It's essential to understand that salaries can vary significantly based on factors such as geographic location, departmental budget, and individual qualifications. Key determinants include years of experience, specific skill sets, educational background, and relevant certifications. For a more tailored salary estimate, consider these variables when evaluating compensation for this role.
DISCLAIMER: The salary range presented here is an estimation that has been derived from our proprietary algorithm. It should be noted that this range does not originate from the company's factual payroll records or survey data.
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What Skills Does a person Need at Suffolk Federal Credit Union?
At Suffolk Federal Credit Union, specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
- Customer Service: Customer service is the provision of service to customers before, during and after a purchase. The perception of success of such interactions is dependent on employees "who can adjust themselves to the personality of the guest". Customer service concerns the priority an organization assigns to customer service relative to components such as product innovation and pricing. In this sense, an organization that values good customer service may spend more money in training employees than the average organization or may proactively interview customers for feedback. From the point of view of an overall sales process engineering effort, customer service plays an important role in an organization's ability to generate income and revenue. From that perspective, customer service should be included as part of an overall approach to systematic improvement. One good customer service experience can change the entire perception a customer holds towards the organization.
- Mortgage Loans: A mortgage loan or, simply, mortgage (/ˈmɔːrɡɪdʒ/) is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged. The loan is "secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan)".
- Underwriting: Underwriting services are provided by some large financial institutions, such as banks, or insurance or investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee. An underwriting arrangement may be created in a number of situations including insurance, issue of securities in a public offering, and bank lending, among others. The person or institution that agrees to sell a minimum number of securities of the company for commission is called the underwriter. The name derives from the Lloyd's of London insurance market. Financial bankers, who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose.
- Loan Processing: The steps taken by an institution lender from the time a request for a loan application is received to the time the loan is approved or denied, including taking the application, credit investigation, evaluation of the loan and other steps.
- specimen processing: A specimen processor receives and processes specimens such as blood and urine samples in a laboratory, captures data and handles client and healthcare practitioner inquiries
Related Jobs
Check more jobs information at Suffolk Federal Credit Union
| Job Title | Average Suffolk Federal Credit Union Salary | Hourly Rate | |
|---|---|---|---|
| 2 | Assistant Branch Manager | $51,820 | $25 |
| 3 | Assistant Manager | $97,938 | $47 |
| 4 | Commercial Lending Relationship Manager | $164,889 | $79 |
| 5 | Executive Vice President & Chief Financial Officer | $422,839 | $203 |
| 6 | Financial Service Representative | $49,586 | $24 |
| 7 | Financial Services Representative | $51,942 | $25 |
| 8 | Loan Underwriter | $57,798 | $28 |
| 9 | Manager | $107,510 | $52 |
| 10 | Manager, Accounting | $118,539 | $57 |
| 11 | Mortgage Loan Officer | $47,074 | $23 |
| 12 | Mortgage Loan Originator | $47,074 | $23 |
| 13 | Mortgage Processor | $42,467 | $20 |
Hourly Pay at Suffolk Federal Credit Union
FAQ about Salary and Jobs at Suffolk Federal Credit Union
The average hourly pay is $21. The salary for each employee depends on several factors, including the level of experience, work performance, certifications and skills.
According to the data, the highest approximate salary is about $49,026 per year. Salaries are usually determined by comparing other employees’ salaries in similar positions in the same region and industry.
According to the data, the lowest estimated salary is about $39,953 per year. Pay levels are mainly influenced by market forces, supply and demand, and social structures.
There are various ways to increase the wage. Level of education: An employee may receive a higher salary and get a promotion if they obtain advanced degrees. Experience in management: an employee with supervisory experience can increase the likelihood to earn more.