M1 Finance

Overview / Commentary
200 N LaSalle St., Ste. 800
Chicago, IL 60601

M1 Finance is the 720th largest bank in the nation. It was established in 1902 and as of June of 2021, it had grown to 371 employees. M1 Finance has an A health rating.

Related Posts

Corrected Link To M1 Finance, With Fee Waived - 7/27/2021

www.m1finance.com DA isn't allowing me to edit my previous message.

M1 Finance Is Now Waiving The $125 First-Year Annual Fee - 7/27/2021

I wonder if it's about to cut the Checking Acct's 1% APY? https://app.loanspq.com/xa/xpressApp.aspx?enc=Kw21Wblm1yxpjJabdoZaDyEGcPTGF3t9HeA71W3apbHc1Fkek4Z4sPE2IDFGE-_vfncJhbHMUW7aXA8Yna_uuag0pglsR3BETF4S59iEQsg

Reviews (2)

Requires Yearly Fee

Posted by: |

The 1% APY requires membership to their Plus membership which costs $125/yr, you also get 1% Cash Back

Probably not worth it unless you're into their investment platform offering

Not There Yet...

Their not quite ready for prime time. No beneficiaries for their 1% (Spend) accounts. Supposedly bene's for the Invest accounts (0% interest), but it's been a month with no response. No mailing addresses...it's 2021 right?

Response time from CSR's Is somewhere between very slow to non-existemt.

They might be better off turning the entire operation over to their robots.


Health Grade Components

FDIC Certificate #14207
Year Established1902
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.35%
Return on Equity - YTD11.98%
Annual Interest Income$29.5MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$1.43B$1.48B
LoansQ2 2021vs Q2 2020$1.04B$1.14B
DepositsQ2 2021vs Q2 2020$1.23B$1.12B
Equity CapitalQ2 2021vs Q2 2020$167.7MM$158.3MM
Loan Loss AllowanceQ2 2021vs Q2 2020$18.0MM$15.2MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$13.8MM$17.4MM
Real Estate OwnedQ2 2021vs Q2 2020$682.00K$2.4MM
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M1 Finance Checking Account Rates

1.00%--M1 Spend Plus

M1 Finance is an Internet only bank and does not have branch locations. Its headquarters is located at 200 N LaSalle St., Ste. 800 - Chicago, IL 60601

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