M1 Finance is the 685th largest bank in the nation. It was established in 1902 and as of December of 2020, it had grown to 341 employees. M1 Finance has an A health rating.
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.
|FDIC Certificate #||14207|
|Return on Assets - YTD||0.67%|
|Return on Equity - YTD||6.04%|
|Annual Interest Income||$60.3MM|
|Assets and Liabilities|
|Assets||Q4 2020vs Q4 2019||$1.43B$1.37B|
|Loans||Q4 2020vs Q4 2019||$1.08B$1.09B|
|Deposits||Q4 2020vs Q4 2019||$1.20B$1.12B|
|Equity Capital||Q4 2020vs Q4 2019||$161.3MM$151.9MM|
|Loan Loss Allowance||Q4 2020vs Q4 2019||$16.9MM$14.3MM|
|Unbacked Noncurrent Loans||Q4 2020vs Q4 2019||$14.7MM$10.5MM|
|Real Estate Owned||Q4 2020vs Q4 2019||$468.00K$3.0MM|
Always verify rates and promotions with the bank or credit union. We are not M1 Finance; we are a rate comparison website and cannot provide official rates or promotions.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|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