For information concerning Radius Bank online bank, please click here.
LendingClub is an FDIC insured institution headquartered at
2701 N Thanksgiving Way, Lehi, UT 84043.
It was founded in
1987 and has approximately $9 billion in
assets. Customers can open an account at one of its 3 branches.
Renovation-specific home equity loans based on the AFTER renovation value
Borrow up to 90% of your future home value to finance renovations
Loans up to $500k with competitive rates from Credit Unions
No draws, inspections, or first mortgage refinancing needed
Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for
taxes and insurance premiums. Click here for more information on rates and product details.
97% of borrowers would recommend to friends or family
Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for
taxes and insurance premiums. Click here for more information on rates and product details.
Overview 2024
General Bank Information
FDIC Insured
Yes
FDIC Certificate
# 32551
Date Established
1987
Assets
$ 8.61 billion
Loans
$ 5.20 billion
Deposits
$ 7.43 billion
Capital
$ 1,023.92 million
Summary Balance Sheet as of June 30, 2023
ASSETS
Cash & Balances due from depository institutions
$ 1,230.21 million
Interest-bearing balances
$ 1,223.62 million
Total securities
$ 1,617.31 million
Federal funds sold and reverse repurchase
N.A.
Net loans and leases
$ 5.20 billion
Loan loss allowance
$ 310.39 million
Trading account assets
N.A.
Bank premises and fixed assets
N.A.
Other real estate owned
N.A.
Goodwill and other intangibles
$ 124.07 million
All other assets
$ 285.83 million
Total Assets
$ 7.59 billion
LIABILITIES
Total deposits
$ 7.43 billion
Interest-bearing deposits
$ 7.00 billion
Deposits held in domestic offices
$ 7.43 billion
% insured (estimated)
87.50%
Federal funds purchased and repurchase agreements
N.A.
Trading liabilities
N.A.
Other borrowed funds
$ 123.44 million
Subordinated debt
N.A.
All other liabilities
$ 187.09 millionn
Total Liabilities
$ 7.59 billion
Shareholders’ Equity
$ 1,023.92 million
Summary Income Statement as of June 30, 2023
INCOME AND EXPENSES
Total Interest Income
$ 818.22 million
Total Interest Expense
$ 266.22 million
Net interest income
$ 552.00 million
Provision for loan and lease losses
$ 243.57 million
Total non interest income
$ 281.06 million
Total non interest expense
$ 537.03 million
Pre-tax Net Operating Income
$ 107.41 million
Customer Reviews for LendingClub (8)
Rated 1.38 stars out of 5 - based on 8 reviews
JeromeK
September 18, 2022 |
Let's see. A bank with a name like "LendingClub" that is focused on predatory straight cash lending in an economy that has gone from flush with cash to a deep recession (depression?) and that has a website that is not fully flushed out and looks like it is basically an afterthought. What could go wrong?
LarryH
July 27, 2022 |
They can move the rate wherever they want to move it and I am not going to move my money back to these Bitcoin bros.
DR Durosher
July 25, 2022 |
A real shit organization. Closed the account as soon as I was credited interest. People on the phone desperately tried to be helpful and I felt sorry for them (same experience as when I call the airlines these days).
Nerd
May 14, 2022 |
Nerdwallet ranked this thing a "best online experience". They must have paid for the rating. It is the worst.
Absolute
March 1, 2022 |
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.
Elaria
February 8, 2022 |
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.
ASoc69
November 17, 2021 |
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.
J Deroshear 1954
November 12, 2021 |
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.
JeromeK
September 18, 2022 |
Let's see. A bank with a name like "LendingClub" that is focused on predatory straight cash lending in an economy that has gone from flush with cash to a deep recession (depression?) and that has a website that is not fully flushed out and looks like it is basically an afterthought. What could go wrong?
LarryH
July 27, 2022 |
They can move the rate wherever they want to move it and I am not going to move my money back to these Bitcoin bros.
DR Durosher
July 25, 2022 |
A real shit organization. Closed the account as soon as I was credited interest. People on the phone desperately tried to be helpful and I felt sorry for them (same experience as when I call the airlines these days).
Nerd
May 14, 2022 |
Nerdwallet ranked this thing a "best online experience". They must have paid for the rating. It is the worst.
Absolute
March 1, 2022 |
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.
Elaria
February 8, 2022 |
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.
ASoc69
November 17, 2021 |
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.
J Deroshear 1954
November 12, 2021 |
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.