RealTime IT News

USAccess Bank Opens Offering Direct Internet Lending

Louisville, KY-based USAccess Bank opened its virtual doors for business this week, offering direct Internet lending.

USAccess Bank said it offers customers the advantages of the Internet--speed, convenience and value--with the product breadth and security of a well-managed, well-capitalized, FDIC-insured financial institution.

"USAccess Bank takes banking to the next level, providing nationwide access to high-value products and services," said bank president Maria L. Bouvette. "We also take banking to where the people are--on the Internet."

The bank is a division of The Central Bank USA Inc., a subsidiary of Porter Bancorp Inc., which operates a half-billion-dollar family of Kentucky financial institutions.

USAccess Bank offers secured and unsecured online loans and lines of credit that serve personal and business purposes. Additionally, it has personal and business deposit products, savings, money market accounts and other financial services.

The bank's money market account yields a 5.30 percent APY and its one-year CD yields 5.40 percent APY.

"Our banking products will be aggressively priced to reflect the cost advantages of doing business over the Internet," Bouvette said.

To assist customers with technical as well as product questions, telephone staff are available weekdays from 7 a.m. to 11 p.m. EST. The bank also provides mortgages and discount brokerage services through partners First Mortgage Network and UVEST Investment Services.