Washington Mutual
Washington Mutual is a savings and loan association and as the name suggest it is not a mutual company. In fact it seized to be a mutual company in 1983. Washington Mutual is a public company whose stock is traded on New York stock exchange. Hence, it is also not a credit union. The company is headquartered in downtown Seattle which is the new place as the headquarters were only moved here in 2006. The pervious headquarter building is not very far away from the new place. The company provides services like
- Retail Banking
- Consumer Lending
- Mortgage Lending
- Business Lending
- Business Banking
- Commercial Real Estate Mortgage
- Insurance Services
- Consumer Investment
After the merger wave of 1980s Washington Mutual is the only surviving bank in Seattle that still stands its ground. Washington Mutual has over 2600 offices operational. The Washington Mutual company was formed in 1889 to revive Seattle after a fire. The company proved to be an investment and building Loan Company. Washington Mutual started Washington Mutual home loans by giving out the first Washington Mutual home loan in 1890. The company started spreading its cash machine and phone banking services as early as 1940s. The company was known as the friend of the family for a long time. Today the official abbreviation for Washington Mutual is WaMu. With the change in the official abbreviation the official website also moved from WaMuHomeLoans.com to wamu.com. Through this website the loan can be applied for online and the website also allows the customers to pay their mortgage bills online. But with the shift of websites the customers are required to established new login accounts on the new website and to subscribe to the services they had subscribed to on the previous website again like the service of e-mail alerts.
Washington Mutual operates "Occasio Branches" for the favorable opportunity branches that are more like a retail store then a bank. The processing of these branches is also different as tellers function from stations and deal with customers from there and not from the typical teller windows. Instead of giving out cash the tellers give out receipts that could be used along a PIN. These receipts can be used at specially designed cash machine that gives you one time cash by using the receipt and Pin and can also be used at the teller stations.
The Washington Mutual finance company or bank is a place where the team of employees serves its customers in a fun and light way. This sets the bank apart from other traditional banks where the environment is very tense and nerve raking. They take their jobs seriously but never let go of the fun element in their servicing. The Washington Mutual employees like to serve everyday people with a spirit that will boost their trust in the company. They deal with all sorts of customers including consumers, commercial customers and small business. Banking is made into an enjoyable experience for all of these customers. The banking processes are explained to the customers in everyday language and simple word banking jargon is avoided to keep customers at a comfort level with the bank employees.
Community involvement has been a part of the WaMu services since its inception. Even when the company was established they started by reviving the neighboring areas of the town destroyed by the fire. Community involvement is not only seen in our history it has become a part of the Washington Mutual culture. Some of the services being provided as a service to the community are education funding, charity, support to diversity and affordable housing opportunities. At Washington Mutual the workers and the management know that they have a debt towards the community and have to pay something back to it.
Washington Mutual Services
Retail Banking
Washington Mutual follows its own innovative approach to the concepts of retail banking. The company combines banking services with excellent customer service. They strive to create an environment of retailing that is welcoming for the customers. Through its retail banking products and services the bank has enabled many to achieve their financial goals. It also assists business that is small in size to sustain till they can support their own services. The company also services full brokerage and a broad range of investment products to businesses.
Home Loans
Washington Mutual loans and home financing solutions make it one of the top lenders in America. A Washington Mutual loan is priced competitively and offers the best financing solution for individuals and families. WaMu mortgage plus offers not only simplicity but also pay back flexibility. The company also provides insurance products for the mortgage like the private mortgage insurance.
WaMu also offers home equity loans and lines of credit to its customers. These loans can turn your dreams into reality as you can use this money to make home repairs, pay for a vacation or pay for your child’s college fee.
Commercial Lending
Washington Mutual loans targeted at the property owners and developers etc are available at terms that are not being offered by any other lender. The processing of each loan is fast and reliable as the rates offered are affordable. These loans are targeting the purchase expense of commercial buildings and properties. The company also provides financing to construct or acquire areas for office or factory use. Through these loans and the multi family community loans the company contributes to the betterment of the community and to providing economic development opportunities to the state.
Card Services
Washington Mutual provides credit card services to the middle market consumer. These products are targeted at meeting the financial needs of the individuals living in United States. Credit cards can be applied for from the website and the response will reach you in 30 seconds. The people having access to a Washington Mutual credit card can get their credit score for free online. In the case of credit card theft the company covers you. Washington Mutual also offers a business credit card that has no annual fee on it. The business credit card can allow the owner or the management to hand out individual cards to employees and set credit limits on it.
