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Savings counselor skills for your resume and career

Updated January 8, 2025

3 min read

Quoted expert

Dr. Thomas Dearden Ph.D.

Below we've compiled a list of the most critical savings counselor skills. We ranked the top skills for savings counselors based on the percentage of resumes they appeared on. For example, 11.1% of savings counselor resumes contained bank products as a skill. Continue reading to find out what skills a savings counselor needs to be successful in the workplace.

15 savings counselor skills for your resume and career

1. Bank Products

Those products which a bank offers to its customers are called bank products. There a variety of services that a bank offers to attract customers. Some of the banking products/ services are: giving loans, overdrafts, check payments, exchange of foreign currency, consultancy services credit, debit and ATM cards, home and online banking.

Here's how savings counselors use bank products:

Opened and closed customer accounts as needed as well as selling bank products.
Opened various bank accounts with vast knowledge of bank products and procedures.

2. Customer Transactions

The sale, rental, allotment, and disposition of personal belongings are called customer transactions. In simpler terms, customer transaction is purchasing or renting a service or a product for personal gain in exchange for money or any other private belonging.

Here's how savings counselors use customer transactions:

Entered customer transactions into computers in order to record transaction and issue computer generated receipts.
Processed customer transactions, such as deposits, withdrawals, etc.

3. Budget Preparation

Budget preparation is a calculative process between the finance department and the spending department. It indicates the start of the budget process and supervises departments and agencies for developing revised assessments (for the past year) and budget estimates (for the coming year). Budget preparation makes the organization responsible for its expenses, lessens costs, and provides for a worst-case scenario. It works as an assessment tool that can visually explain if you have sufficient funds to operate or to grow.

Here's how savings counselors use budget preparation:

Maintained counseling, calculating income, budget preparation and traditional loss mitigation workouts.
Assisted with budget preparation and traditional loss mitigation workouts.

4. ATM

ATM (Automated Teller Machine) refers to an electronic banking system that enables the customers to initiate and complete transactions without queuing for aid from the teller within the branch.

Here's how savings counselors use atm:

Processed negotiable items balanced cash vault, teller cash drawer and the automated teller machine (ATM) daily.
Assisted customers on various savings and checking account transactions; balanced ATM.

5. Credit Reports

Credit reports are statements that carry information about your credit affairs and current credit situation like loan payment history and credit accounts status. A credit report acts as history because it contains the record from the day you opened the account till your account balance. Potential lenders and creditors make use of credit reports and decide whether to offer you credit or not and under what conditions.

Here's how savings counselors use credit reports:

Analyze financial information to assist with budgets, monthly expenses, auctions, credit report and proposals for loan modification.
Counseled and prepared budgets for borrowers, calculated and verified income, credit reports, employment histories, etc.

6. Inbound Calls

Here's how savings counselors use inbound calls:

Maintained excellent talk time while navigating through multiple systems taking a high volume of inbound calls from customers.
Received and processed high volume, inbound calls from homeowner's concerning their mortgages.

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7. Foreclosure

Foreclosure is a term that refers to the legal process used by mortgage holders to take over mortgage real estate from borrowers who are unable to pay their mortgages. Foreclosure allows the lenders to collect the amount owed on the defaulted loan by taking possession of the asset which is used as collateral for the loan or by forcing it to sell.

Here's how savings counselors use foreclosure:

Advised homeowners throughout foreclosure procedures.
Prepared budgets for members who were in danger of losing their homes to foreclosure.

8. Advocacy Campaigns

Here's how savings counselors use advocacy campaigns:

Assist in advocacy campaigns as necessary.

9. Investor Guidelines

An investor guideline refers to general standards, strategies, and parameters relating to investments; the set guidelines get altered from time-to-time.

Here's how savings counselors use investor guidelines:

Created and submitted proposals for restructure of mortgages to lenders and negotiated final resolution under investor guidelines.
Investigated all information that differed from initial application to ensure loans to stay within investor guidelines.

10. Fannie MAE

Here's how savings counselors use fannie mae:

Full understanding of Fannie Mae, Freddie Mac and North Carolina and South Carolina Mortgage Guidelines.
Worked on Freddie Mac, Fannie Mae, FHA, and conventional loans.

11. Savings Accounts

Here's how savings counselors use savings accounts:

Prepared all secretarial correspondence and personnel matters and opened all new savings accounts.
Handled Jumbo certificates of $99,000 value and above, IRA and savings accounts *Provided customer service for savings and checking accounts

12. FHA

The Federal Housing Administration (FHA) stands for a government agency in the United States that offers housing insurance to FHA-approved lenders who follow certain conditions.

Here's how savings counselors use fha:

Reviewed FHA case number assignments, mortgage credit rejects and refinances authorizations to determine qualification.
Utilized automated underwriting engines to assess credit and collateral risk during conventional and FHA lending.

13. Va

Virtual assistants are the professionals who provide assistance for businesses virtually from remote areas. These individuals are hired by online businesses to perform management and administrative tasks of the company such as marketing, bookkeeping, and many other services. with virtual assistants, businesses can exist and work virtually without any need for a physical office.

Here's how savings counselors use va:

Orchestrated & implemented sale and refinance transactions of conforming/nonconforming FHA/VA loans.
Contacted Conventional/FHA/and VA mortgage holders regarding refinancing their home loans.

14. Loan Applications

A loan application is a form of request presented by a person to a financial institution for the approval of a loan. This application form carries detailed information regarding the petitioner's identification information, financial competence, and sources of income that indicate whether he can return the loan back or not.

Here's how savings counselors use loan applications:

Reviewed residential loan applications verifying data was complete and met investor and lender guidelines.
Review file documents after loan applications are received.

15. Interest Rates

Here's how savings counselors use interest rates:

Quoted current interest rates and annual yields on financial instruments and calculated potential interest earnings.
Advise member of paying down on interest rate verses making a down payment.

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What skills help Savings Counselors find jobs?

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What type of skills will young savings counselors need?

Dr. Thomas Dearden Ph.D.

Assistant Professor of Sociology, Virginia Polytechnic Institute and State University

Indeed, the way we work is changing. The skills that young graduates will need are diverse. Transferable skills and soft skills will certainly be marketable. These include traditional crafts such as communication, but I also think the world expects more empathy from its employees. Young graduates with an understanding of racism, sexism, and environmental responsibility will become increasingly important.

Do you want to know more?

List of savings counselor skills to add to your resume

The most important skills for a savings counselor resume and required skills for a savings counselor to have include:

Bank Products
Customer Transactions
Budget Preparation
ATM
Credit Reports
Inbound Calls
Foreclosure

Advocacy Campaigns
Investor Guidelines
Fannie MAE
Savings Accounts
FHA
Va
Loan Applications

Interest Rates
Loan Payments
Customer Accounts
Financial Statements
Financial Analysis
Customer Inquiries

Updated January 8, 2025

Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

Updated January 8, 2025

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