Are you looking for a bank where you can securely store your money and get funding whenever you have a project? Look no further; Fidelity Bank offers a digital banking experience where you can manage your finances smoothly.
What is Fidelity Bank?
Fidelity Bank is an institution focused on providing customers with quality financial tools such as savings and loans. When it started in 1908, it aimed at providing Louisiana residents with a safe way to save money and get funding to purchase a home. It was called Fidelity Homestead Association until 2007, when it was renamed Fidelity Homestead Savings Bank.
With the new name came a new portfolio where they could now offer customers more products. In 2004, they bought NOLA Lending Group, a secondary market home financing solution, and later that year, it changed its name to Fidelity Bank. They became a full bank that offers a myriad of services to customers.
How Does Fidelity Bank Work?
Fidelity Bank operates like any other regulated and registered bank. It offers its services through the brick and mortar branches, a website, and a mobile application. The customer will choose an account they wish to open, whether personal or business, and follow the steps to open the account.
The bank is a Federal Depositors Insurance Corporation member that insures depositors’ money.
What Services Does Fidelity Bank Provide?
Here are the services offered by Fidelity Bank.
Personal Banking Services
Here are the personal services you can open.
- Personal Checking: Personal Checking accounts allow the user to deposit money, access online banking and Fidelity cards, and transact depending on the limit on the specific account.
- Personal Saving: Personal savings accounts allow you to save towards specific goals and provide interest rates on the saved amount
- Personal Loans: If there is something you want to purchase but need more funds, Fidelity Bank loans can help you. They include auto loans, personal lines of credit, and personal term loans.
- Wealth Management: The wealth management service allows users to manage all their finances on one platform.
Business Banking Services
Fidelity Bank also offers services to businesses. The products include:
- Business Checking: These accounts are for your business transaction, and they depend on the
- Business Savings: These accounts allow you to save and prepare the business for emergencies.
- Small Business Solutions: These services are geared towards providing small businesses with all they require to succeed.
- Business Loans: Business loans help companies to stay afloat during a cash crunch.
- Treasury management: This feature allows companies efficiently manage their funds, whether they send or receive cash.
Loans
Fidelity offers loans to individuals and businesses that meet specific criteria. Here is a breakdown of the loans that they offer.
Personal Loans
The personal loans they offer include:
- Auto Loans: For new and used vehicles
- Recreational Vehicle Loans: For motorhomes, boats, motorcycles, and more
- Personal Term Loans: For any individual requirement
- Personal Line of Credit: Provides a line of credit with interest on what is used only
Business Loans
- Commercial Real Estate Loans: For purchasing, refinancing, or constructing commercial property
- Fixed Assets and Equipment Loans: For any business equipment
- Business Line of Credit: Flexible funding for the daily business needs
- Business Term Loans: For any business needs and customized repayment structure
- Small Business Administration Loans: Government-backed business financing
Home Loans
Fidelity Bank and its subsidiary, NOLA Lending Group, focus on providing their customers with affordable mortgage deals. All you have to do is provide the required information and the mortgage option you want.
- Home Mortgage Loans: A range of options to fit your needs
- Home Equity Loans: Get a loan with your home as equity
- Home Improvement Loans: Make your home more comfortable, safe and functional
Other Services
Other services provided by Fidelity Bank Include:
Account Services
Take control of your finances and manage them from anywhere, anytime. Here are the services you’ll access:
- Online banking and bill pay
- Mobile banking
- Online statements
- Debit card
- Visa gift card
- Mobile wallet
- Direct deposit
- Overdraft authorization
- Wire transfers
Business Services
Here are the services Fidelity Bank offers businesses.
- Online banking and bill pay
- Mobile banking
- Business online statements
- Mobile wallet
- Surcharge-Free ATMs
- Business Debit Cards
Treasury Management
The services you’ll access under treasury management include:
- Remote deposit capture
- Arch origination
- Cash management
- Merchant card processing
- Positive pay
What are the Pros and Cons of Opening an Account with Fidelity Bank?
Pros of Fidelity Bank
- Low service charges
- Good customer care services
- Highly rated, easy-to-use mobile app
- Multiple deposit products to fit everyone’s need
Cons of Fidelity Bank
- A limited number of physical locations
- Low rates compared to other banks
How Does Fidelity Bank Compare to Other Banks?
Fidelity Bank compares fairly with other banks. It makes the banking process simpler through its mobile and online services. However, their rates are lower when compared to their competitors.
Is Fidelity Bank Worth It?
Yes, Fidelity Bank aims to provide users with a smooth banking experience where they can manage their money quickly. Anyone who doesn’t have the time to visit a bank physically and wants a safe place to save and get a loan will find it helpful.
How to Get Started with Fidelity Bank
Starting with Fidelity Bank is easy. You’ll start by choosing the type of account you want before signing up. You can also answer a few questions, and they’ll help you find the right account. To get started, follow the following steps.
- Go to their official website and click on Open Account
- Select the account you want to open
- Provide the information you are required to give (name, email, address, state, city, date of birth, social security number, and others)
- Verify your identity and make your first deposit
