Mechanics Bank

Introduction

The Mechanics Bank is a leading business banking service provider of an array of banking service products comprise of savings, checking, home equity, credit cards, MasterCard etc. Beside all these common business banking services, this bank also provides some essential services. These are investment management, wealth management, corporate retirement plans, trust services etc.

Functional divisions of Mechanics bank

Mechanics bank manages it’s banking service activities through four major operative divisions namely personal, small business, corporate and wealth management division. All these functional divisions provide some commonly and frequently used services like savings, loans, credit cards and checking.

Personal functional division: This division deals with services like home loans, equity line of credit, checking, mortgages and reordering of checks.

• Home loans facility: This facility enable customers to acquire money as loans. The loan can be utilized for various financial activities like purchasing home, renovating home etc. Beside all these, customers will be able to change their adjustable mortgage rates, consolidate debts. Customers will also be able to get free consultation facility if they acquire loan from Mechanics bank.
• Checking facility: This is a very flexible option for the customers who like to process their checking activities with ease. Some of the additional checking facilities are waiver of monthly service charge against some special conditions, access to ATM with free of surcharge etc. Customers will be able to use ATMs of any bank. The other major benefits include free online banking facility, through which customers will be able to view their checks.
• Credit card facility: Customer can borrow money through these credit cards. Customers normally require these credits at the time of purchasing home or auto or while extending their business. Mechanics bank provide a variety of credit cards for different business needs through Visa. Platinum Visa enables customers to acquire cash rebates or gathering points on purchase. One of the effective facility of this card include fraud protection facility.
• Personal loan facility: The Mechanics bank provide two sort of personal loans like secured and unsecured. The other loan types include auto loans, which can be a beneficial option for the customers, when they plan to purchase auto with easy installments.

Small business functional division: This division deals with small business banking activities like loans, business checking etc.

Loans: Small business owners frequently require to purchase equipments, inventory for their small business to prosper. Sometimes they require money to finance real estate or to renovate their business. In every cases they need money. And money can be acquired through loans of Mechanics bank. Not only this, customers can get the advantage to repay their loaned amount in easy installments. The major two types of loans are basic 7(a) term loan, which will be beneficial for purchasing business oriented equipments, real estates or while business owners need to reconstruct their business. Customers can acquire loan from $50,000 to &2,000,000. The other loan type is 504 term loan, which will be beneficial for the customer while they decide to purchase commercial real estate. The maximum loan limit is $2000000.

Corporate functional division: This division is concerned with corporate business activities like lockbox services, treasury management, commercial lending, business checking etc. Treasury management deals with personal services. The treasury management activities can simplify the business activities by reducing all the paper activities. The other facilities include handling cash flow.

Wealth management division: This division of Mechanics bank comprise facilities like trust and estate related service, brokerage services, financial planning, private banking etc.