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The differences between branch lending officers and credit officers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a branch lending officer, becoming a credit officer takes usually requires 1-2 years. Additionally, a credit officer has an average salary of $129,478, which is higher than the $46,615 average annual salary of a branch lending officer.
The top three skills for a branch lending officer include business relationships, origination and FHA. The most important skills for a credit officer are risk management, credit risk, and credit analysis.
| Branch Lending Officer | Credit Officer | |
| Yearly salary | $46,615 | $129,478 |
| Hourly rate | $22.41 | $62.25 |
| Growth rate | 4% | 17% |
| Number of jobs | 70,689 | 60,323 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 69% |
| Average age | 45 | 39 |
| Years of experience | 6 | 2 |
A branch lending officer is typically in charge of processing loan applications, ensuring accuracy and smooth workflow. Their responsibilities revolve around liaising with clients to identify their needs, conducting interviews and assessments, gathering and reviewing requirements, and coordinating with analysts and other staff. They may also perform clerical tasks such as answering calls and correspondence, arranging appointments, and maintaining records of all transactions. Furthermore, as a branch lending officer, it is essential to provide efficient customer service, all while adhering to the company's policies and regulations, including its vision and mission.
A credit officer is responsible for evaluating financial documents and account statements to determine the eligibility of an applicant for a loan option. Credit officers communicate with the applicant to discuss the loan process, explain the terms of service, and provide them alternative options that would fit their payment ability and loan needs. They create financial reports and recommend the qualified applicant to the manager for approval. A credit officer should have excellent communication and analytical skills, ensuring that the loan policies adhere to the federal and state regulations.
Branch lending officers and credit officers have different pay scales, as shown below.
| Branch Lending Officer | Credit Officer | |
| Average salary | $46,615 | $129,478 |
| Salary range | Between $29,000 And $73,000 | Between $85,000 And $196,000 |
| Highest paying City | Saint Cloud, MN | New York, NY |
| Highest paying state | New Mexico | New York |
| Best paying company | Citi | Farm Credit System |
| Best paying industry | Finance | Finance |
There are a few differences between a branch lending officer and a credit officer in terms of educational background:
| Branch Lending Officer | Credit Officer | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between branch lending officers' and credit officers' demographics:
| Branch Lending Officer | Credit Officer | |
| Average age | 45 | 39 |
| Gender ratio | Male, 60.0% Female, 40.0% | Male, 64.4% Female, 35.6% |
| Race ratio | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 63.3% American Indian and Alaska Native, 0.5% | Black or African American, 8.0% Unknown, 2.7% Hispanic or Latino, 9.7% Asian, 10.7% White, 68.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 8% | 11% |