Roof Replaced
The process was easy and self explanatory. They kept you informed every step of the way!!
I Like The Bank
I really like the bank for it's 0 interest home imporvement loans, but I wish they would send year-end or quarterly statements indicating the outstanding balance. Even if only available electronically.
They only send out payment coupon books (antiquated) and nothing else.
Deliberately Opaque Online Account Services
I obtained a Home Improvement Loan through Enerbank. It was a no-interest loan for 18 months, which was processed quickly which accounts for 2 stars instead of 1 star because the online account information is seemingly not provided.
Would you consider it necessary or important to know the current status of your loan or loan amount?!?!?
Apparently Enerbank is still figuring out "how to provide that information online" (see vzo comment 26 Dec 2018).
The online website is set up to make payments and see payment history, but nothing else. There is no way to know if your payment has been processed or what your current loan amount is, which is extremely relevant information if you are concerned your loan is not fully paid off before the almost 20% interest rate kicks in.
If you have other options, try any other bank or lender. Enerbank has been aware of customers dissatisfaction with lack of account information access online since Dec. 2018, and they have done nothing. It appears to be deliberately opaque to trick their customers on defaulting on their loans.
EDIT ADDED: Enerbank has known that customers would like "means for getting your balance online" since 2015, see AndyMac10 comment 19 March 2015. Avoid Enerbank if possible.
Signs Of The Times
I am amazed the Federal Reserve has not investigated this so called bank.They were recommended by a contractor we had used before. We won't ever use the contractor or this disorganized "organization" ever again.
When I saw how screwed up they were I found a way to pay off our 5 year loan after having it for only 45 days. My bank sent a check for my payoff but after 12 days the check had not cleared, I called them and they said they'd received nothing. I verified the mailing address and they told me that is no longer the mailing address (Brickyard Rd.). I asked them why the recent statement had the old address, I was told "I guess they didn't change it on the statements yet".Now I believe I'll need to place a stop payment on the missing check. I cannot believe anyone would trust them with their money. Save yourself a lot of trouble, find another lender!!
Data as of Q1 2022
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 12368 |
| Year Established | 1928 |
| Employees | 19633 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.43% |
| Return on Equity - YTD | 13.5% |
| Annual Interest Income | $1.05B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2022vs Q1 2021 | $163.2B$152.5B |
| Loans | Q1 2022vs Q1 2021 | $88.60B$84.26B |
| Deposits | Q1 2022vs Q1 2021 | $142.4B$131B |
| Equity Capital | Q1 2022vs Q1 2021 | $16.78B$18.05B |
| Loan Loss Allowance | Q1 2022vs Q1 2021 | $1.42B$1.98B |
| Unbacked Noncurrent Loans | Q1 2022vs Q1 2021 | $405.0MM$818.0MM |
| Real Estate Owned | Q1 2022vs Q1 2021 | $12.0MM$27.0MM |
