Banking solutions that make planning for college easier

The parents and other stakeholders of the College Savings Bank of New Jersey have a reason to smile after the institution was sold to NexBank Investment. In the Merger that was announced by NexBank, the College Bank gets to keep their name, but will be operating as a division of the larger organization. The benefit of this merger is that they have an expanded capital base, but will get to keep their current operation.
This information was revealed by John Holt, the CEO at NexBank. According to the deal, the college bank will also be allowed to keep its branding. This is great news especially because the bank has been working as a brand and providing college savings since 1987. The bank has been managing programs for the Indiana college choice CD 529 savings plan. It is also connected with the Arizona Family College Savings Plan.
About NexBank
The main bank that NexBank operates under is the NexBank Capital, Inc. The organization is diversified and serves customers all over the country. The main areas under which the main bank operates are:
• Investment banking
• Commercial banking
• Mortgage banking
The bank has an online banking portal. This is supposed to bring their services closer to the customers by simplifying processes and making visits to the bank a reserve for when it is absolutely possible.
The leadership of Nexbank is headed by James Dondero and has a capital base of $3.5 Million in assets. The executive leadership tries to come up with services that are in line with the ever evolving needs of the customers. By taking in an institution that offers students savings opportunities, they will be expanding their customer base while at the same time improving the process of service delivery. It is a step in the right direction for college savings programs.

Community investment makes banking sense

Low-income residents of Dallas will soon be able to secure loans through the expansion of the Affordable Housing Loan Program, the result of a partnership between Nexbank SSB and non-profit mortgage servicer Dallas Neighborhood Homes. Nexbank will be injecting $50 million in loans for Dallas Neighborhood Homes to use to help Dallas residents whose incomes limit their mortgage options. As part of the program, prospective borrowers will undergo financial counseling through Dallas Area Habitat for Humanity in order to prepare for home ownership. Both Nexbank and Dallas Neighborhood Homes believe that this partnership will help propel home ownership in North Texas, an area where home ownership is among the lowest in the country.

Chartered in 1922 and with assets of $3.5 billion, Nexbank SSB provides commercial, mortgage, and investment banking services to a range of clients from large corporations to small businesses and to individuals.

Although Nexbank uses technology solutions to enhance the personal touch that its clients expect, Nexbank’s leadership team still focuses on basics like addressing client needs and community investment. Under the direction of President and CEO John Holt, Netbank expanded its services in commercial and mortgage banking, as well as in investments. At the same time, Chief Operating Officer Matt Siekielski’s service on the board of the Real Estate Council Community Fund means that Nexbank is plugged into the community’s financial needs. The partnership with Dallas Neighborhood Homes shows how Nexbank can apply its responsiveness to client needs and its community awareness to create innovative services for everyone’s benefit.

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