Wachovia

The Wachovia Corporation was established as a result of a merger. Two industry giants Wachovia Corporation and First Union Corporation collaborated and entered into a merger to form Wachovia. As a result of the merger First Union took Wachovia’s name. The name Wachovia originated from the land that was captured by Morvian settlers. When they came to North Carolina they called acquired land Wachovia and the land that they captured at that time forms most of Forsyth County. The largest city of that region is Winston Salem.

Wachovia Corporation is a company offering diversified financial services to its client. The company is based in North Carolina. The products portfolio of the company includes asset management, banking service, investment banking, corporate banking and wealth management products and services. The company has its financial centers in over 21 states. Its world wide services are being provided through its 40 global offices. The four basic division of the company are: wealth management, general bank, investment banking and capital management. The banking division is servicing small businesses and commercial clients along with banking retail services. The wealth management division is servicing personal trust, insurance business and high net worth. Capital management division is the provider of retirement and retail brokerage services along with asset management. The corporate and investment division is dealing in market making, financial advisory, and capital rising. Wachovia Securities which is a subsidiary of Wachovia Corporation is serving a wide market with retail brokerage. Wachovia Securities operates in America and also in Latin America. Wachovia has assets of $754.2 billion and total deposits are at $421.9 billion. The stock holder equity is around $70.2 billion. The bank is servicing 13 million customers that include households and businesses. The active online customers are 4.5 million which takes the online service enrollment to 13.4 million. In order to service their customers ensuring convenience the company operates 5,100 ATMs.

Wachovia Corporation has a long list of achievements:

Third Largest Bank In The United States Based On Total Deposits
One Of The Largest Providers Of Financial Services In The United States
Currently Ranked Number 46 On The Fortune 500 List For 2007
$46.8 Billion In Revenue
Fourth Largest Bank Holding Company In The United States
Fifth Largest Bank In The United States By Market Capitalization
Fourth Largest Wealth Manager In The United States
Third Largest Full Service Retail Brokerage

At Wachovia the management and employees value individual differences and try to serve customers accordingly. The company not only tries to serve best to its customers but also to its employees. It focuses on retaining and developing employees. Along with customer loyalty the loyalty of employees is also critical. The company not only embeds diversity into operations it works to take the community along as it owes the community some service. The company encourages its 110,000 employees to work hard and explore their full potential. The promotion criterion is based on performance and all employees are treated equally because only satisfied and happy employees will ensure satisfied and happy customers. But all the employees remain devoted to diversity. There is a corporate diversity council operational at Wachovia. The responsibility of this council is to develop and maintain strategies for boosting the diversity at the company and this council also monitors progress. The council not only reviews it also suggests and the company takes a note of the suggestions made by the company.

Wachovia Loans

Wachovia loans are offered in a wide variety each loan designed to serve a different need. A Wachovia loan can be taken up to pay for a wedding, to go on a vacation, to finance your studies or to finance a home for yourself.

Home Loans

The Wachovia home loan range has loan programs including Mobile/Manufactured Home program. This program enables the interested home owners to opt for financing to secure mobile homes and manufactured homes as the name of the loan program suggests. Negotiable Collateral Loan is another loan program that offers low rates of interest and for securing the financing it makes use of saving account, stocks or bond and keeps those as collateral to give out loans. If you collateral your stocks, bonds or savings accounts in this loan program you will still receive the profit that you earn on these. Miscellaneous Secured Loan is a secured mortgage loan which uses the house that you are buying as collateral.

These loans can be applied for over the phone and you can also visit the Wachovia office nearby to apply.

Home Equity Loan

Home equity loans can free you some money to invest in other places. There are various types of equity loans available by Wachovia. Home Equity Loans allow the home owner to borrow a loan by keeping the equity in his home as collateral. The Adjustable Rate Home Equity Loans are perfect for the time when you think that interest rates are going down and the trend will continue for some time. Prime Equity Lines of Credit allow the home owner to take a line of credit and not a loan. The line of credit can be accessed to take out the money whenever you need the money. Home Equity Comparison Charts are being offered by the company itself you help you compare loans and see which one is better for you.

Auto Loan

The Wachovia Corporate auto loans and auto finance options are very affordable and enable just about anyone with a steady income to become owner of a car, boat, RV or motorcycle. The company believes that it is hard enough to find a vehicle to purchase and the owner should not have to worry about anything else. When the company serves you with this spirit they actually put you at ease with their low rate financing options. The company offers financing options for both used and new cars and the financing is 100 percent. The loan rates can be fixed or adjustable depending upon the owner’s choice. The loan can be applied for through phone and by visiting the financial centre of the company.