Erste Nationalbank announces additional products and solutions to improve home ownership and financial independence in vulnerable communities
Includes graduation allowance program, Easy Access online mortgage portal and no overdraft verification
PITTSBURGH, June 17, 2021 / PRNewswire / – First National Bank, the largest subsidiary of FNB Corporation (NYSE: FNB), recently added a suite of solutions specifically designed to help financially vulnerable communities. The additions, which include a closure cost support program, an online mortgage portal, and a no-overdraft checking account, are designed to expand FNB’s reach, improve access, and promote home ownership and financial independence for historically underserved consumers across their presence.
“Home ownership offers significant benefits for both families and the communities in which they live,” said Vincent J. Delie, Jr., Chairman, President and Chief Executive Officer of FNB Corporation and First National Bank. “Our goal is to provide consumers with additional products and resources to help them overcome challenges, manage their finances more effectively, and accelerate their home buying ability.”
To remove a common financial barrier to home ownership, the FNB recently Graduation aid in urban markets where a significant need has been identified. FNB offers up to $ 2,500 to shut down the cost of borrowers who have low and middle income or who buy a home in a low to middle income community (LMI) or predominantly a minority group. The deal loan is available through the bank’s proprietary homeowner, home improvement and rehabilitation programs, which have lower loan requirements and 100 percent funding, otherwise you will not be able to buy a home.
FNB is also focused on ensuring that all of their customers, regardless of their location, have convenient access to information, products and services. The bank recently opened a fully digital mortgage experience for customers who prefer digital self-service tools. Customers can now easily pre-approve FNB mortgage products, including proprietary, affordable home ownership and improvement programs, through a secure online portal. When clients are ready to formally apply, they can upload and sign documents, track the progress of their application from submission to completion, and choose when to hire a loan officer to assist, all from their digital devices.
In addition, as home ownership is closely related to financial wellbeing, FNB is committed to ensuring that traditionally underserved customers have the knowledge and tools to better manage their banking operations and buy a home. With Help Me Decide, an interactive tool that maps customers with FNB solutions, individuals can view informative video content and ultimately sign up for an account that best suits their individual situation and needs – including FNBs Current account without overdraft, eStylespecifically designed to allow customers to completely avoid overdraft fees.1 Today, eStyle is FNB’s second most popular account, underscoring the value of offering customers the choice of products tailored to their preferences.
In addition to newly specialized products and services, FNB continues to support customers in its LMI and vulnerable communities by:
An emphasis on financial education, with tutorials on the mortgage process and ways to effectively prevent overdrafts – Available in the branches, online in the Solutions Center e-Store and by contacting FNB employees.
Digital tools like an improved website and a leading mobile app with customizable alerts and debit card controls, all of which provide transparency, provide balance information and encourage positive account management habits.
Ongoing optimization of the physical network to maximize range, including strategic expansion of the ATM network to provide access to urban markets.
The FNB’s improved solutions are part of the bank’s broader social commitment. In 2020 the FNB announced a $ 250 million Pledge to encourage economic investment in underserved communities, building on the millions of dollars the company has strategically invested in initiatives that stimulate job growth, create affordable housing, and promote overall social and economic development. For more information on the many ways TSOs empower the regions it operates, including through home ownership and affordable housing, see the Corporate Responsibility Report 2021.
The final grant is available in Pittsburgh, PA, Johnstown, PA, Harrisburg, PA, Cleveland, Ohio, Youngstown, Ohio, Baltimore, MD, Raleigh, NC, and Charlotte, NC, with further markets to be considered in the future.
About FNB Corporation
FNB Corporation (NYSE: FNB), based at Pittsburgh, Pennsylvania, is a diversified financial services company that operates in seven states District of Columbia. FNB’s market coverage spans several large metropolitan areas including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, DC; and Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High point) in North Carolina. The company has total assets of more than $ 38 billion and nearly 340 bank branches throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South carolina, Washington, DC and Virginia.
The FNB offers through its subsidiary, which is operated by its largest subsidiary First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, real estate finance, state banking, business credit, capital markets, and lease finance. The Consumer Banking segment offers a full range of consumer banking products and services, including deposit products, mortgage loans, consumer loans, and a full range of mobile and online banking services. FNB’s wealth management services include wealth management, private banking and insurance.
FNB Corporation’s common stock trades on the New York Stock Exchange under the symbol “FNB” and is included in the Standard & Poor’s MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the FNB Corporation website at www.fnbcorporation.com.
1 FNB will reject or return transactions if a customer does not have sufficient funds in their account to cover a transaction but cannot prevent the account from being overdrafted. If the account is overdrawn, no overdraft fee will be charged to the customer. The customer is responsible for all transactions that overdraw the account and return the account to a positive balance.
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SOURCE FNB Corporation