LendingClub Bank, National Association

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LendingClub Bank, National Association Locations

Deposit Rates - May 23, 2022

SAVINGS RATES APY MIN
CD RATES APY MIN
3 Mo CD
1.00% $1,000 Compare
6 Mo CD
0.10% $1,000 Compare
9 Mo CD
0.10% $1,000 Compare
INT CHECKING RATES APY MIN
INTCK
0.10% $2,500
INTCK
0.15% $100,000

Overview 2022

General Bank Information

FDIC Insured Yes
FDIC Certificate # 32551
Date Established 1987
Assets $ 4.32 billion
Loans $ 3.09 billion
Deposits $ 3.20 billion
Capital $ 634.25 million

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 659.92 million
Interest-bearing balances $ 621.47 million
Total securities $ 205.73 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 3.09 billion
Loan loss allowance $ 144.39 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 148.45 million
All other assets $ 206.54 million
     Total Assets $ 3.69 billion

LIABILITIES
Total deposits $ 3.20 billion
      Interest-bearing deposits $ 2.92 billion
      Deposits held in domestic offices $ 3.20 billion
      % insured (estimated) 52.59%
Federal funds purchased and repurchase agreements $ 0.17 million
Trading liabilities N.A.
Other borrowed funds $ 271.93 million
Subordinated debt N.A.
All other liabilities $ 218.77 millionn
      Total Liabilities $ 3.69 billion
      Shareholders’ Equity $ 634.25 million

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 210.74 million
Total Interest Expense $ 8.41 million
Net interest income $ 202.33 million
Provision for loan and lease losses $ 142.18 million
Total non interest income $ 558.02 million
Total non interest expense $ 547.80 million
Pre-tax Net Operating Income $ 70.36 million

LendingClub Bank, National Association is an FDIC insured institution headquartered at 2701 N Thanksgiving Way, Lehi, UT 84043.
It was founded in 1987 and has approximately $4 billion in assets. Customers can open an account at one of its 3 branches.

Customer Reviews for LendingClub Bank, National Association (5)

Rated 1.60 stars out of 5 - based on 5 reviews
  • Nerdwallet ranked this thing a "best online experience". They must have paid for the rating. It is the worst.

  • Not for the faint hearted. I threw a lot of money into this one and then logged in a few months later and was asked to make an initial deposit.

  • I couldn't get the account open. After multiple calls, the problem was fixed. Then it was opened and after five days they closed it and returned the money to me. I think I deposited too much (6 figures). in any event, I am happy to be done with them. Save yourself and the nice lady who answered the phone there some time and avoid this.

  • Had some fits and starts getting the account opened and getting online access which may have been due to the fact that I had been a Radius Bank customer. Mariah was super helpful by phone (she may in fact be the only person working the phone). No other complaints or concerns so far.

  • A .60% rate is attractive right now, but I am going to be wait to put my hard earned deposit dollars with a bank that doesn't call itself Lending Club and wasn't invented around the (now-failed) peer-to-peer lending concept.


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Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    ONLINE CD
    Bank
    -
    $50,000
    3 Month
    1.00%
    2.22x (National Avg. - 0.45%)
    $1,000
    -
    SCENARIO
    Year Rate
    1.00%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 500 350
    2 50,500 505 354
    3 51,005 510 357
    4 51,515 515 361
    5 52,030 520 364
    6 52,551 526 368
    7 53,076 531 372
    8 53,607 536 375
    9 54,143 541 379
    10 54,684 547 383
    11 55,231 552 387
    12 55,783 558 390
    13 56,341 563 394
    14 56,905 569 398
    15 57,474 575 402
    16 58,048 580 406
    17 58,629 586 410
    18 59,215 592 415
    19 59,807 598 419
    20 60,405 604 423
    TOTAL $11,010 $7,707
  • 2
    ONLINE CD
    Online Bank
    -
    $50,000
    12 Month
    1.30%
    3.23x (National Avg. - 0.40%)
    $5,000
    -
    SCENARIO
    Year Rate
    1.30%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 650 455
    2 50,650 658 461
    3 51,308 667 467
    4 51,975 676 473
    5 52,651 684 479
    6 53,336 693 485
    7 54,029 702 492
    8 54,731 712 498
    9 55,443 721 505
    10 56,164 730 511
    11 56,894 740 518
    12 57,633 749 524
    13 58,383 759 531
    14 59,142 769 538
    15 59,910 779 545
    16 60,689 789 552
    17 61,478 799 559
    18 62,277 810 567
    19 63,087 820 574
    20 63,907 831 582
    TOTAL $14,738 $10,317