Yahoo Finance Minnesota Bank & Trust Launches New Home Improvement Loan for Low- to Moderate- Income Consumers
Minnesota Bank & Trust continues to support the community with affordable, low rate consumer loans as some national banks pull back on consumer lending
EDINA, Minn., July 29, 2021 (GLOBE NEWSWIRE) -- Minnesota Bank & Trust, powered by HTLF (Heartland Financial USA, Inc. – NASDAQ: HTLF), introduced its new Home Improvement Loan for Low- to Moderate-Income consumer borrowers. The new loan product is structured to help low- to moderate-income borrowers access much needed credit.
“We’re proud to launch this new loan product to help the communities we serve,” said Stephen Bishop, President and CEO at Minnesota Bank & Trust. “Minnesota Bank & Trust is dedicated to meeting the needs of our customers by providing access to credit. The new Home Improvement Loan will provide credit for those who need it most."
The new Home Improvement Loan is secured by the borrower’s primary residence. The loan is a 60-month term for loan amounts of $5,001-$14,999.
This new product is part of a broader initiative at Minnesota Bank & Trust and HTLF to help consumers in need of credit. The Forbes Best Bank has significantly increased consumer lending in 2021:
Created a new, popular Buy Local Loan that provides credit up to $5,000 for unexpected expenses or finishing your next project, while shopping local to support your favorite small businesses.
Launched a new HELOC promotion in January 2021.
Launched a new special on Home Equity Installment Loans in January 2021.
Minnesota Bank & Trust’s decision to increase consumer lending comes at a time when some larger, national “trillionaire banks” have announced they are discontinuing their lending, including no longer offering HELOCs to new loan applicants or discontinuing their personal line of credit lending.
“HTLF is a consortium of community banks in 12 states. We have the size and strength of a larger regional bank but operate with local leadership and decision making. That allows us to offer products and services that our customers and communities need,” said Kevin Karrels, EVP, Head of Retail Banking.
About Minnesota Bank & Trust
Minnesota Bank & Trust (MBT), a subsidiary of Heartland Financial USA, Inc. operating under the brand name HTLF, is a state chartered bank with approximately $956 million in assets. MBT is located in Edina and Minnetonka and specializes in business lending and deposit services while providing a wide variety of personal credit, private client services and deposit services along with complete electronic banking programs. Minnesota Bank & Trust is a Member of the FDIC and an Equal Housing Lender. Visit www.mnbankandtrust.com for more information.
About HTLF
Heartland Financial USA, Inc., operating under the brand name HTLF, is a financial services company with assets of $18.37 billion. HTLF has banks serving communities in Arizona, California, Colorado, Minnesota, Iowa, Kansas, Minnesota, Missouri, Montana, New Mexico, Texas and Minnesota. HTLF is committed to its core commercial business, supported by a strong retail operation, and provides a diversified line of financial services including treasury management, residential mortgage, wealth management, investment and insurance. Additional information is available at www.htlf.com.
CONTACT:
Courtney Medick
CMedick@mnbankandtrust.com
