Addition of EnerBank accelerates Regions’ strategy to serve as the premier lender to homeowners
Regions Bank on Friday announced it has completed its acquisition of home improvement lender EnerBank USA. EnerBank is one of America’s largest point-of-sale lenders serving homeowners and contractors through a series of loan programs and digital solutions that support a wide range of home improvement needs.
.@askRegions is committed to serving as the premier lender to homeowners. By welcoming @enerbank, Regions will be able to offer more Home Improvement financing options. Details, via @RegionsNews. Regions Bank, Member FDIC, Equal Housing Lender
“The addition of EnerBank’s exceptional team and leading-edge technology will help Regions deliver even greater value to customers who are seeking convenient, competitive solutions for efficiently financing home improvement needs,” said Scott Peters, senior executive vice president and head of the Consumer Banking Group for Regions Bank. “In recent years, we have seen tremendous demand not only for mortgage and refinancing solutions but also for new options to
upgrades people are making to their homes. The services provided by EnerBank will enable Regions to deliver a more complete range of options as part of our focus on serving as the premier lender to homeowners.”
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Through its nationwide reach, EnerBank USA has served more than one million homeowners since its inception and currently works with over 10,000 contractors by offering mobile, online, and phone-based point-of-sale lending options. Lending services are delivered directly to homeowners at the point of sale via contractors who are part of EnerBank’s national network.
Over time, the EnerBank USA name will consolidate into the Regions Bank brand. The EnerBank team will remain based primarily in Salt Lake City, Utah, under the leadership of Charlie Knadler and will join Regions as part of the Consumer Banking Group.
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“EnerBank USA has built a competitive edge by delivering point-of-sale loan programs that enable homeowners to make needed improvements while helping contractors offer attractive payment options to the people they serve,” Knadler said. “Now, combined with the resources and backing of Regions Bank, we are poised for even further growth. We share Regions’ commitment to innovation and superior service, and together, we will deliver even greater value to homeowners and home improvement professionals nationwide.”
The EnerBank team includes approximately 485 associates. The company has served homeowners and contractors in all 50 states, with particular strength in much of Regions’ retail banking footprint across the South, Midwest, and Texas. Before its acquisition by Regions Bank, EnerBank USA was a wholly owned subsidiary of CMS Energy Corporation.
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