IberiaBank - Customer Service and Credit Card Approvals the Old Fashioned Way

IBERIABANK, a 123-year-old subsidiary ofand grow. By 1992, Iberia Savings Bank formed
IBERIABANK Corporation, has 10.4 billion in assets andFinesco, LLC, an affiliate of Iberia Financial Services
currently employs over 1800 people in itsand subsidiary of Iberia Savings Bank, to provide
Louisiana-based headquarters and various branchcompetitive rates for commercial and personal
offices. With low APR's and no annual fees,insurance premiums.
customers can enjoy either choosing from1995 brought yet another change - ISB Financial
MasterCard or Visa during the application process, andCorporation, the holding company for Iberia Savings
have the benefit of a rewards program. However,Bank was formed and incorporated. ISB Financial
acceptance is rather limited as applications areCorporation was designed to acquire all the Iberia
processed by hand, individually, having customersSavings capital stock. Two years later, in 1997, Iberia
provide concrete proof of income, etc. If you are willingSavings Bank was renamed IBERIABANK, changing to
to wait longer than 60-seconds for your approval,a Louisiana-chartered commercial bank.
these perks - and many more - await you.IBERIABANK - The Future
IBERIABANK - The HistoryAfter countless name changes and growing into a
IBERIABANK got its start way back in 1887 as thecommercial bank with a wide array of consumer
Iberia Building Association in Louisiana. Sharing an officeproducts, IBERIBANK continues to provide their
with one of its directors and having only $4,341 incustomers with unparalleled customer service and
assets made it hard for the Iberia Building Associationunique products to meet a wide array of needs. With
to be taken seriously as a lending institution. The Iberiaproducts like checking accounts that accrue interest on
Building Association was created to be the "wageour balances to money market accounts and
earners friend to help families in financing the purchasemortgages, you can be sure to find what you are
of homes and to encourage thrift." Over the course oflooking for.
the first 100 years, the name was changed to IberiaIBERIABANK - The Products
Savings & Loan Association or ISLA, and grew itsIBERIABANK boasts some of the best credit card
assets to around $294.6 million. Up until the mid-1980's,products in the industry. Alluring rewards cards with
ISLA was not permitted to lend to businesses due tolow rates and no annual fees is an attractive offer for
savings and loan association restrictions. This actuallyanyone, but not just anyone can get them. To even be
worked in ISLA's favor because as the areas oil boomconsidered the applicant and/or co- applicant must
came to an end, they did not suffer the samehave "excellent credit," free from current and past
setbacks as other banks because they had no stakenegative information, collections accounts, and
in the oil businesses. The ISLA followed its founder'sbankruptcies. The information that the applicant
philosophy: focusing on customer-oriented services byco-applicant provides on the application will be verified
providing the types of loans its customers needed. Theby a real, live person, not electronically like most credit
ISLA is proud to offer loans to everything from schoolcard issuers. This does result in a much lower
loans and auto loans to mortgages and even loans foracceptance level, but so far this model has worked
appliances.out well for IBERIABANK. By keeping its lending
After hitting their 100 year anniversary in 1987, ISLAstandards higher, IBERIABANK has been able to
changed its name to Iberia Savings Bank, and beganweather the financial crisis a bit better than some
opening branch offices to serve customers in differentother banks. If you have the credit score, can meet
areas. Iberia Savings Bank began assuming the debtstheir requirements, and are willing to wait, the rewards
of troubled banks, allowing them to occupy new areasare well worth it.