Choosing the right financial institution is a crucial step towards achieving your financial goals. Arbor Bank stands out as a reliable partner, offering a comprehensive suite of services designed to empower your financial journey. From competitive interest rates to flexible loan options and member-centric benefits, Arbor Bank is committed to providing value and fostering financial well-being for its customers.
Competitive Rates and Financial Advantages
Arbor Bank is dedicated to offering its members direct financial benefits. In the 12 months leading up to September 2021, Arbor Bank provided significant financial advantages to its members, as highlighted in the CUNA Membership Benefits Report. This commitment translates to tangible savings and earnings for you, making Arbor Bank a smart choice for managing your finances.
Smiling woman using a banking app on her phone
One of the key advantages Arbor Bank offers is competitive Annual Percentage Rates (APRs) on loans. It’s important to remember that advertised rates are the lowest available and are subject to your credit score and loan-to-value ratio at the time of application. Rates are also subject to change, reflecting market dynamics. Arbor Bank strives to provide the most favorable rates possible, ensuring you get the best value when borrowing.
Maximize Your Savings with High-Yield Accounts
For those looking to grow their savings, Arbor Bank offers compelling options like the Momentum Checking account. This account features a competitive Annual Percentage Yield (APY), allowing your money to work harder for you. To maximize your earnings with Momentum Checking, ensure your debit card purchases post to your account during the calendar month. It’s worth noting that ATM transactions are not included in the requirements for earning the high APY. Interest is not paid on balances exceeding $15,000, and this rate is variable and subject to change. Even if monthly requirements aren’t met, you simply won’t receive interest for that particular month, with no penalty or minimum balance required.
Modern bank branch interior with customer service representatives
Arbor Bank also provides opportunities to boost your savings through accounts like Volt Banking Savings. These accounts may offer attractive APYs on balances up to a certain threshold, encouraging younger savers to build healthy financial habits. Terms and conditions apply to these specialized savings accounts, and it’s always best to confirm the specifics with an Arbor Bank representative.
Early Pay and Convenient Access to Funds
Accessing your funds quickly and efficiently is a modern banking necessity. Arbor Bank’s Early Pay service allows for direct deposits and other Automated Clearing House (ACH) credits to potentially post to your account up to five days early. The availability of this service depends on when the deposit is initiated by the sender and received by Arbor Bank. While Arbor Bank strives to make funds available as soon as possible, early access isn’t guaranteed and is subject to the sender’s processing times. This service offers a significant convenience, providing quicker access to your money.
Flexible Loan Options and Deferred Payment Possibilities
Arbor Bank understands that borrowing needs vary. They offer a range of loan options, including personal loans and credit cards, with features designed to provide flexibility. Qualifying borrowers for certain loans may be eligible to defer their first payment, allowing for breathing room when taking on new financial obligations. Deferral periods can vary, such as up to 90 days for some loans, depending on credit score and loan closing date. It’s important to note that interest accrues from the date of loan disbursement, even during the deferral period.
Loan officer discussing options with a client
Promotional periods and special rates are also offered on various loan products at Arbor Bank. For example, limited-time offers on balance transfers for credit cards can provide a window to manage and potentially lower your debt obligations. These promotional rates are typically applicable for a specific period before reverting to a standard rate. Similarly, special rates on personal loans may be available for a limited time, offering advantageous borrowing conditions. Always check the terms and conditions of any promotional offer, as rates and program details are subject to change.
Skip-a-Payment and Member Support
Arbor Bank demonstrates its commitment to member well-being through programs like the Skip-a-Payment option on eligible loans. This feature provides financial flexibility, allowing you to skip a loan payment under certain circumstances, up to a maximum number of times per year and over the loan’s lifetime. Eligibility for Skip-a-Payment depends on loan type and account standing, with certain loan types excluded.
Arbor Bank is an equal opportunity employer, reflecting its commitment to fairness and inclusivity in all aspects of its operations. Choosing Arbor Bank means partnering with a financial institution that prioritizes its members’ financial health and provides a range of services to support their diverse needs. From competitive rates and flexible loan options to convenient services and member benefits, Arbor Bank is a strong choice for individuals seeking a reliable and value-driven banking experience.
