The table below provides information about the number of workers in this career in various regions. It also provides information about the expected growth rate and future job openings.
Employment
Major employers:
- Banks and credit unions
- Mortgage bankers and brokers
- Personal credit companies
Outlook
Growth for this career will be slower than average. The number of loan applications processed each year is expected to increase as more people apply for loans. However, the increased use of technology that allows loan officers to be more efficient will reduce the number of workers needed, slowing growth.
The job outlook in this career is affected by changes in the economy. An economic downturn and a rise in interest rates could lead to a drop in demand for loans. Job prospects are best for people with banking, loan, or sales experience.
Loan Officers (CIS 100362)
| Location | Employment | & | Growth | >>>> | Annual openings | |
| This occupation |
All occupations |
|||||
| Illinois |
11,795 Large |
& |
-1.5% |
2.7% |
>>>> |
769 High |
| Champaign Area |
218 Medium |
& |
4.6% |
1.9% |
>>>> |
16 Very few |
| Charleston-Effingham-Centralia Area |
216 Medium |
& |
-5.6% |
-1.2% |
>>>> |
14 Very few |
| Cook County |
6,099 Large |
& |
-1.5% |
3.0% |
>>>> |
397 Moderate |
| Decatur Area |
89 Small |
& |
0.0% |
0.1% |
>>>> |
6 Very few |
| DeKalb-Elgin-Aurora Area |
548 Large |
& |
1.8% |
4.0% |
>>>> |
38 Few |
| Du Page County |
1,025 Large |
& |
-1.4% |
3.7% |
>>>> |
68 Few |
| Edwardsville Area |
191 Medium |
& |
-0.5% |
4.4% |
>>>> |
13 Very few |
| Jacksonville-Carlinville-Litchfield Area |
102 Medium |
& |
-5.9% |
-2.2% |
>>>> |
6 Very few |
| Kankakee-Morris-Pontiac Area |
111 Small |
& |
1.8% |
-0.1% |
>>>> |
8 Very few |
| Lake County |
1,056 Large |
& |
-1.6% |
2.6% |
>>>> |
69 Few |
| McHenry County |
96 Small |
& |
6.3% |
6.1% |
>>>> |
8 Very few |
| Mt Vernon-Marion-Carbondale Area |
197 Medium |
& |
-5.1% |
0.2% |
>>>> |
12 Very few |
| Northwest Illinois Area |
223 Medium |
& |
3.6% |
5.1% |
>>>> |
16 Very few |
| Peoria-Bloomington Area |
354 Medium |
& |
-3.1% |
1.3% |
>>>> |
22 Very few |
| Quincy-Macomb-Galesburg Area |
144 Medium |
& |
-7.6% |
-1.6% |
>>>> |
9 Very few |
| Rock Island-Moline Area |
175 Medium |
& |
-1.7% |
1.8% |
>>>> |
12 Very few |
| Rockford Area |
170 Medium |
& |
-2.4% |
2.4% |
>>>> |
11 Very few |
| Shawnee National Forest Area |
114 Medium |
& |
-7.0% |
-0.3% |
>>>> |
6 Very few |
| Springfield Area |
266 Medium |
& |
-5.6% |
-0.8% |
>>>> |
15 Very few |
| St Louis-Belleville Area |
174 Medium |
& |
-5.2% |
0.2% |
>>>> |
10 Very few |
| Vermilion County |
46 Small |
& |
-6.5% |
-5.1% |
>>>> |
3 Very few |
| Will County |
187 Small |
& |
1.1% |
5.4% |
>>>> |
13 Very few |
| United States |
301,400 Large |
& |
1.7% |
3.1% |
>>>> |
20,300 Moderate |