Many of the banks still follow the conventional and conservative method of lending but manage to succeed in their mission. One name which is worth mentioning in this regard is the Presidential bank. The bank is a federal bank and is regulated by the specific statute. Though this was formed in the year 1985 it has come long way on the success path. It applies a conservative method in lending money so that the depositors’ money is safeguarded and does not fall in wrong hands. It also strives to follow the modern and progressive approach as well. Due to this balanced approach the bank is very famous in the areas where it serves and has earned bank a good rating in bank ratings. In today’s modern and fast paced banking the mortgages are offered at a faster rate and in doing so, banks often do not verify the potential customer’s repaying ability. Sometimes it turns out to be a non performing debt. Presidential bank verifies all the required details about the potential mortgage seeker, goes deeply in to its background and then approves the mortgage. This helps the bank to offer the facility to the genuine seekers and money remains secured as well. In its continuous effort for the customer benefit, the bank in the year 1995 started offering account opening facility through internet, making it the USA’s first bank to do so.

Presidential bank was formed by the founders of Mosaic Funds (previously known as GIT Investment Funds). Since its initial days, the bank started generating profits for the group even when markets were turbulent. Today the bank holds $450 million in assets. The bank is among the initiators of real time PC banking service allowing the customer to see their account balances, transfer money between different accounts over internet. It gave the customer the facility to view the month to date statement as well. The bank did some unconventional banking during the year 1992 to 1997. It started purchasing performing loans from the unsuccessful banks and then route them though FDIC and RTC. This gave the bank the opportunity to generate higher yield than the other banks and helped it to reach at the top in the Washington DC area. The bank has won many awards for its outstanding services and products in the USA. It shows that banks can be successful even if they follow conservative banking approach.

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Other Details:

Website: www.presidential.com

Phone Number: (301) 652-0700

Address: 4520 East-West Highway, Bethesda, Maryland 20814
Minimum Balance: www.presidential.com

Interest: www.presidential.com

Current Savings Account Rates: www.presidential.com

Current CD Rates: www.presidential.com