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Overview / Commentary
888-390-1220
1245 E. Brickyard Road, Suite 600
Salt Lake City, UT 84106

EnerBank USA is headquartered in Salt Lake City and is the 16th largest bank in the state of Utah. It is also the 560th largest bank in the nation. It was established in 2002 and as of September of 2016, it had grown to 274 employees at 1 location. EnerBank USA has a B+ health rating.

Solar Same As Cash Loan Was Helpful

Posted by: BronsonCPA | Apr 5, 2013

I purchased a Solar Electric System recently and chose to use the Enerbank Same As Cash Loan as recommended by the solar contractor. I paid close attention to the terms and this offer was much better than leasing the system. I have found Enerbank to be very helpful and they explained the payment schedule very well. It seems other posters on here are not familiar with Same As Cash financing or were mislead by their contractors. Enerbank is a bank, they make money on money. In my case I got cheap money for a year and was able to float my 30% federal tax credit. Pretty good deal really. I'm okay with Enerbank making some money off of me (I assume that my contractor paid them a fee and worked it into my bid), because I get to hold onto $10,000 for a year instead of paying it now. I can make money off that $10k by investing it for the next year and I will be sure to pay off the SAC loan so I don't become subject to "unexpected" fees and charges. Coming from a financing background, this is a no-brainer. People who "forgot" they would need to make payments on a loan should not blame the lender. there is no free lunch!

I Like The Bank

Posted by: AprilD | Mar 9, 2012

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. 

Avoid, Avoid, Avoid

Posted by: AndyMac10 | Mar 19, 2015

Financed the purchase of a new furnace, air conditioner and water heater through Enerbank (rough year) through our installer. Filled out the loan information (we have 800+ credit) and was quickly approved. Only learn after the fact that that 1) there is no online means of making payments; 2) there are no online means of getting your balance or confirmation of payments; 3) company doesn't issue statements monthly or yearly for that matter; 4) on their contact page, there is no means to e-mail them - just voice numbers. What company or banking institution in this day DOESN'T have some online presence or means of conducting business electronically? The only explanation is that their intent is to defraud their customers. Unbelievable. As such, we've tripled the payments we're making (hopefully their being received!) each month with the intent of getting rid of them. I will say that their customer service reps are always courteous, and state that some online method of tracking balances is forthcoming (6 months now of saying that).

Custom Sport And Online System Need To Be Updated

Hi. I am a new customer ener bank this month I pay my bill 2 times and it still doesn't show on my bank account I do not understand what kind system and what kind of customer service you have and what kind of Technology you guys have you guys need to update your system and the people can pay the bills online Otherwise the people credits going to be bed I do have a perfect credit score it's perfectly good and probably you guys gonna mess it up my score

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Health
B+

Health Grade Components

Overall
FDIC Certificate #57293
Year Established2002
Employees274
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD2.37%
Return on Equity - YTD21.09%
Annual Interest Income$88.4MM
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$1.34B$1.16B
LoansQ3 2016vs Q3 2015$1.24B$1.08B
DepositsQ3 2016vs Q3 2015$1.16B$1.02B
Equity CapitalQ3 2016vs Q3 2015$155.7MM$126.0MM
Loan Loss AllowanceQ3 2016vs Q3 2015$12.0MM$8.6MM
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$3.0MM$1.5MM
Real Estate OwnedQ3 2016vs Q3 2015$0$0
Rates

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Locations


EnerBank USA Locations
Enerbank Usa1245 E. Brickyard Road, Suite 600Salt Lake City, UT 84106