Consumer Lending
Do loans have an APY?
No, loans have an APR. Annual Percentage Rate.
What is min age requirement to obtain a credit card?
18. You need to be 18 to obtain any type of loan.
What is the current Heloc Promo interest rate and how long is it for?
5.49% APR for 6 months
What are the two important Regs that make up Fair Lending?
ECOA (Equal Credit Opportunity Act)
FHA (Fair Housing Act)
What is LRB's Vision?
Go Far Go Together
What is the preferred method of application for all our loan products?
Online
What is the preferred method to make a credit card payment?
Thru our online banking app. It posts faster this way than a payment made at the teller line.
How long is the waiting period before a client can qualify for the promo rate AFTER receiving a Heloc Promo
12 months from the previous Heloc
Should you ask questions unrelated to the loan process (marital status, children)
No, they will disclose that information when they fill out the application
What is our corporate address?
6430 Bridge Rd Monona WI
Are there annual fees on Helocs?
There are not on LRB Helocs. There are on legacy SBCP and MB Helocs that are due annually.
Can clients go online to apply for a credit limit increase?
No! Banker keys the limit increase into Decision Pro
How much new money do you need to add to an existing Heloc to receive the Promo
$25,000
Where is LRB CRA information kept?
On our website.
What two banks came together to form LRB?
State Bank of Cross Plains and Monona Bank.
Can we do an internal balance transfer from an existing LRB card to a new LRB card?
Not at this time.
What card consumer card has the highest interchange?
Signature, that's why we want to promote it as much as we can
What is our market trade area for lending
Loan Policy describes our trade area as Columbia, Dane, Dodge, Sauk, Jefferson, Rock, Green and Iowa.
Do we match competitor pricing?
Not at this time.
How many locations does LRB have?
20 (this includes 2 motor banks)
John Smith comes in and wants to know if you can pull his credit report because he is curious of his score. How do you respond?
Mr. Smith, you can access your credit score on our online banking app now! Let me show you how.
We are changing our card products soon, what type of interest rate will be offering with our new product?
What is our Heloc Promo loan amount cap?
$400,000
How do you handle a client who inquires about a loan and then tells you they have a 530-credit score and asks if they will be approved for a loan?
"I am not able to make that determination until you submit a loan application. I'm happy to help show you where to apply on our website".
How many Associates does LRB have?
395 as of 7.8.25