Bank Expects Nearly 200 Locations in 39 Markets by End of the Year
THOUSAND OAKS, Calif., Nov. 7 /PRNewswire/ -- Countrywide Bank, FSB,
the third largest federal savings bank in the U.S.(1) and a member of the
Countrywide (NYSE: CFC) family of companies, today announced plans to
expand the bank's financial center network in key growth markets across the
U.S. By the end of the year, Countrywide Bank will have nearly 200
financial centers in 39 metropolitan markets. Today, the Bank has 165
financial centers in 33 markets, up from 104 locations at the end of the
second quarter of 2007. The bank plans to continue opening financial
centers in 2008 and beyond.
"Increasing our financial center footprint has long been part of the
bank's growth plans, and we are hopeful that by opening new offices we will
be able to better serve our current and future customers in key markets,"
said Countrywide Bank Managing Director for Deposit and Investment Services
Pierre P. Habis. "The majority of our new financial centers are co-located
within Countrywide Home Loans offices and each bank office is staffed by a
financial services representative and, in many offices, a registered
representative who can assist with products and services offered through
Countrywide Investment Services, Inc.*," said Habis.
This week the bank opened 10 new locations: Alessadro, Milpitas,
Newport Beach and Temecula, CA; Boulder, CO; East Orlando, FL; Plainfield,
IL; Burlington, MA; Yorktown Heights, NY and Sugarland, TX. Countrywide
Bank is expanding into areas that have already proven to be successful,
including California, Texas, Arizona and Florida. For a complete list of
Countrywide Bank's financial centers, go to:
https://bank.countrywide.com/fincenter2.aspx.
Efficient Model = More Interest
Since its launch in 2001, Countrywide Bank has grown from a $75 million
asset bank to one of the 20 largest federally chartered banks in the U.S.
with assets of more than $120 billion, according to Habis. "Our growth over
the past six years is a testament to the success of our highly scalable and
efficient business model," said Habis. "The bank operates as a hybrid
savings institution, combining the best of the Internet and efficient
financial centers, resulting in both consistently high rates and a physical
presence. Our unique model translates into tremendous savings for us, which
means more interest for our customers," continued Habis.
Convenience of Funding Electronically
While Countrywide Bank customers have always been able to fund their
SavingsLink account online, they can now open a CD online and fund it
electronically. "Since we started offering customers the ability to
electronically fund their CD accounts, we've seen more and more customers
opting to take advantage of this feature," said Habis. "Customers are still
able to mail a check or wire funds, but this is an added convenience. In
fact, of our customers who open CDs online, half are choosing to fund
electronically," continued Habis. "In our view, this is further evidence
that people appreciate our unique model and are attracted to our innovative
products and features."
About Countrywide Bank
Countrywide Bank, FSB, is a member of the Countrywide Financial
Corporation (NYSE: CFC) family of companies. Countrywide Bank offers
consumers highly competitive rates on certificates of deposit and money
market accounts and, through its family of companies, also offers
investment* and insurance products. Customers can review banking products
and services, check rates on deposits, and apply for new accounts by phone,
online, or at one of 165 financial centers located throughout the country.
In addition, the company offers the same superior rates and unsurpassed
personalized service to its business customers through its Premier Business
Banking and Commercial Banking Divisions. For more information about
Countrywide Bank, visit http://www.countrywidebank.com. Member FDIC. Equal
Housing Lender.
*Countrywide Investment Services and Countrywide Insurance Services
Products
Not FDIC Insured Not Guaranteed By Any Bank Not A Deposit
May Lose Value Not Insured By Any Federal Government Agency
(1) Ranking is based on Second Quarter 2007 as reported by the FDIC.
SOURCE Countrywide Bank
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Related links:
http://www.countrywide.com
http://www.countrywidebank.com
CONTACT:
Media Hotline, 1-800-796-8448,
pressroom@countrywide.com
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