Sallie Mae Bank has earned DepositAccounts.com’s recognition as one of America’s healthiest banks. DepositAccounts’ annual list measures the health of 6,500 federally insured banks based on a number of factors including asset quality, deposit account growth rates, and capitalization.
The list recognizes the top 200 banks that have shown exceptional fiduciary responsibility.
“We are very pleased to earn this recognition as we deliver on our mission of helping families save, plan and pay responsibly for college,” said Raymond Quinlan, chairman and chief executive officer, Sallie Mae. “Our focus on high quality asset growth and conservative funding translate into a well-capitalized banking business that proudly serves America’s families as they invest in a college education.”
Sallie Mae Bank is a subsidiary of SLM Corporation, commonly known as Sallie Mae. On April 30, Sallie Mae completed its separation and is now a standalone consumer banking business focused on helping families save, plan and pay for college. Sallie Mae Bank originates approximately $4 billion of private education loans annually; its private education loan portfolio totaled $7.4 billion at June 30, 2014.
Sallie Mae is based in the Ogletown-Christiana area south of Newark.
Sallie Mae Bank also offers money market accounts and savings accounts. The FDIC insured savings accounts include free mobile banking, enabling customers to securely deposit checks, check balances, and transfer funds on the go. More information is available at www.salliemae.com/banking.
DepositAccounts.com is an online publication focused on storing, updating and publishing savings account data. The site tracks more 250,000 consumer deposit rates.
