EnerBank USA

Deposits held and insured by Regions Bank

Overview / Commentary
888-390-1220
1245 E. Brickyard Road, Suite 600
Salt Lake City, UT 84106
Deposits held and insured by Regions Bank

Roof Replaced

Posted by: |

The process was easy and self explanatory. They kept you informed every step of the way!!

I Like The Bank

Posted by: |

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

Posted by: |

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

Posted by: |

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!!

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Health
A+

Data as of Q1 2022

Data displayed below is for insuring bank: Regions Bank
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #12368
Year Established1928
Employees19633
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.43%
Return on Equity - YTD13.5%
Annual Interest Income$1.05B
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$163.2B$152.5B
LoansQ1 2022vs Q1 2021$88.60B$84.26B
DepositsQ1 2022vs Q1 2021$142.4B$131B
Equity CapitalQ1 2022vs Q1 2021$16.78B$18.05B
Loan Loss AllowanceQ1 2022vs Q1 2021$1.42B$1.98B
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$405.0MM$818.0MM
Real Estate OwnedQ1 2022vs Q1 2021$12.0MM$27.0MM
Rates

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Locations

Availability



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