The primary purpose of this article is to provide an introduction to the MetLife Bank. and the services it offers to the consumer banking sector.
History of MetLife Bank, N.A.
MetLife Bank National Association was founded in 2001. It is a part of the family of MetLife, Inc. companies. MetLife, Inc. is the biggest life insurer in the United States.
The MetLife group is based in Manhattan, New York City. MetLife, Inc. has been in business for over 140 years since opening its doors in 1868. The company originated from the National Union Life and Limb Insurance Company which was founded in 1863. National Union was started by businessmen from New York City with only $100,000.
MetLife Bank and the Civil War
National Union insured Civil War servicemen against disabilities that occurred because of injuries or sicknesses due to wartime. The company faced difficult times in its early years and eventually changed their focus to life insurance. MetLife was given birth and began selling life insurance. Over the years, MetLife, Inc. has increased its impact on the business world. Between 1929 and 1931, MetLife provided funding to construct two of the most recognized landmarks in the world, Rockefeller Center and the Empire State Building. MetLife also invested into the United States stock market $1 billion dollars after the terrorists attacks of September 11, 2001.
MetLife Bank Today
Today, MetLife, Inc. is a world renowned insurance and financial products business. MetLife, Inc. has manages policies that total over $3 trillion dollars. It became a publicly traded company in 2000 when it had the largest initial public offering in United States history. MetLife, Inc. earned over $49 billion dollars in revenue and was ranked 39th on the FORTUNE 500 list in 2008 MetLife, Inc. is lead by is Chairman of the Board, Chief Executive Officer, and President C. Robert Henrikson. MetLife was named as the best managed insurance company in 2008 by Forbes.
MetLife Bank Services
MetLife Bank is a direct bank with only a few branches. The MetLife Bank has over 430,000 deposit and loan accounts. In the United States they are rated in the top 100 commercial banks. MetLife Bank has over $9 billion dollars in customer deposits. MetLife Bank increased is lending ability in the arena of the residential mortgage business by purchasing First Horizon National Corporation and Everbank Financial Corp. in 2008.
MetLife offers a variety of accounts: money market accounts, savings accounts, certificates of deposit, and individual retirement accounts. Metlife offers Coverdell Education Savings Account CDs that is designed for educational expense saving that are tax free. It also offer home financing with various types of mortgages and reverse mortgages which are available in select markets.
Because MetLife Bank offers direct banking to the majority of its customers can bank online or over the phone. To open an account you can either apply online, call to speak with a banking advisor, or print forms from the MetLife Bank website and mail them in. Making deposits into an account is very easy as customers can transfer funds through direct deposit, wire transfers or deposit through the mail. Customers can access their money through ATM, over the phone, online, or with checks. MetLife Bank deposit accounts are insured through the FDIC.