CitiFinancial: Home Equity Loans, Refinance, Unsecured, Secured Loan

CitiFinancial

www.citifinancial.com
NYSE: C
(Finance: Banking Services)

CitiFinancial is the lending arm of parent company Citigroup Inc, one of the “Big Four” banks in the U.S. The company was named CitiFinancial in 1999, shortly after the purchase of Texas-based Associates First Capital. The headquarters for Citigroup Inc. is in New York City, New York and the current CEO is Vikram Pandit.

Contact Info
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Services
Personal Loans, Refinance Loans, Unsecured Loans, Secured Loans, Online Banking, Mortgages

Overview
CitiFinancial provides loans to consumers seeking debt consolidation loans, home improvement loans, and personal loans, which can be used to cover medical expenses, pay car repair bills, finance appliance replacement costs, or even pay for this year’s a family vacation. CitiFinancial provides an online service to aid consumers in calculating their total debt, i.e. credit cards, auto loans, etc., into one, affordable monthly payment. CitiFinancial provides several online resources, including calculators and informative articles, to help consumers when deciding which type of loan is right for their given situation.

In addition, CitiFinancial provides home equity loans, loans that can also be used for debt consolidation or home improvement, and which is backed by the equity in your home. CitiFinancial offers borrowers fixed rates and loan repayment plans. Another nice feature about CitiFinancial lending is that the loan application is forwarded to the applicant’s nearest branch location for face-to-face service.

For those seeking a personal loan without collateral, those who are not homeowners, CitiFinancial offers unsecured loans. Secured loans can be secured with your car and rates are often lower than those associated with an unsecure loan. With CitiFinancial’s online banking, customers can securely log into their account and pay bills, manage funds, and change personal information at any time of day.

CitiFinancial is the consumer lending subsidiary of Citigroup and through its 1,800 North American locations they offer debt consolidation and personal loans, including loans for home improvements and vacations, plus unexpected expenses, such as medical bills or car repairs. CitiFinancial also offers mortgages, home equity loans, and refinancing loans.

While Citigroup is headquartered in New York, CifiFinancial is headquartered in Baltimore, Maryland. In 2009, due to the billions of dollars in losses and write-downs by Citigroup, Citi split into two separate operating units, Citicorp and CitiHoldings. Citicorp is mainly comprised of the firm’s investment banking and commercial banking operations, while CitiHoldings maintains the company’s remaining operations. The split was designed to distance Citigroup from the billions of dollars invested in toxic assets, including derivatives and mortgages.

CitiFinancial intends to split into two separate loan servicing segments, its noncore trouble markets into one and the rest of the company’s consumer lending operations into another. In addition, $3.2 billion in automobile loans have been sold to Santander. Job losses are also expected, somewhere in the range of 18 percent, between 500 and 600 jobs, plus 300 branch locations are due to close.

In 2010, Citigroup pulled back its operations overseas and abroad, including closing around 50 CitiFinancial branches throughout the United Kingdom, and another 50 branches located in Canada.

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