AFSA Branch Operations Basics Training Modules
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About Each Module

Unlike individual company-specific training, the modules focus on the common characteristics that most consumer finance companies share. This distinction is important, because the modules make education available to the independent consumer finance company members who otherwise could not afford to develop a customized training program for their employees.

Learning activities for each module help companies customize the program to educate new employees about the company's products, policies and procedures.

The training consists of a series of self-paced, web-based learning modules (approximately one hour each) made up of lessons that will take employees no more than 15-20 minutes per lesson to complete. The lessons will use video to model key skills and content, as well as self-check quizzes, which will let the employee know whether he or she has grasped the concepts. The modules also incorporate the use of audio narration. Each module will end with a certification test. Upon successful completion, the employee (learner) will receive a Certificate of Completion for the module.

A Coach Guide is available for each module to be used by the branch manager, training manager or designated learning coach.

Here is a list of the first five modules and what employees will be able to do after completing the online training.

Module I - Welcome to the Consumer Finance Industry

  • Describe key events in the history of the consumer finance industry
  • Explain the role that consumer finance plays in the financial services industry and in consumers' lives
  • Explain how three popular credit products helps consumers
  • Describe the lifecycle of a loan
  • Describe how a consumer finance company earns money to support its operations and generate profits
  • Explain what it means, from an employee and consumer standpoint, to be part of a regulated industry
  • List and briefly describe key industry regulations affecting our industry

Module 2 - Customer Service

  • Explain the importance of treating customers as welcome guests
  • Identify and describe the three "C's" of customer service
  • Identify key customer service tasks
  • Demonstrate how to properly answer the telephone, place a customer on hold, and transfer a call
  • Demonstrate how to properly greet customers who come into the office
  • Demonstrate how to respond properly to customer complaints
  • Demonstrate your appreciation of your customers and their business

Module 3 - Marketing and Sales

  • Describe the variety of customers served by the consumer finance industry
  • Identify ways in which consumer finance companies acquire customers through marketing
  • Identify and demonstrate how to use the 5-step sales model to solicit a new customer for a loan and a current customer for a refinancing

Module 4 - Making a Good Loan

  • Explain the role that credit plays in making a good loan
  • Identify how to assess credit - ability. stability and willingness to pay
  • Understand the importance and steps necessary to comply with the Equal Credit Opportunity Act (ECOA)
  • Explain the role of collateral in selecting an appropriate loan product
  • Describe the role of the credit bureau report and how to interpret report information
  • Demonstrate how to complete verifications
  • Identify key legal requirements in making the loan
  • Identify the steps in closing a loan

Module 5 - Collection Skills

  • Identify reasons why customers become past due
  • Explain why collections can be viewed as a service
  • Explain the difference between contractual delinquency and recency of payments
  • Identify and demonstrate how to handle an early stage collection call
  • Explain how later stage collections differs from earlier stage
  • Learn the nine step process necessary in all effective collection calls
  • Explain what skip tracing is an identify ways of re-establishing contact with customers
  • Identify key legal requirements that affect collections