The banking industry is one of the most prosperous industries on earth because it provides a range of services that people can use to build their lives. NexBank just so happens to be one of the top regional banks in the Southeast, and it offers credit services, public funds, mobile banking, online banking, checking accounts, certificate of deposits, commercial lending, agency services and many more. Back in 2015, this Dallas-based bank acquired College Savings Bank to serve a larger range of clients. By acquiring this particular New Jersey-based bank, NexBank is looking to help people save money in terms of going to college.
The brilliance of this idea can’t be put into words. College Savings Bank will retain its name even though it will fall under NexBank’s banking system. Over 500 college-saving programs will be offered. The only difference here is that the programs will get much more exposure thanks to NexBank’s larger audience. “This is a winning move for each party,” said John Holt, president of NexBank. This particular acquisition is going to better position NB for long-term and short-term growth.
College Savings Bank focuses on helping students reach their potential by offering programs like this, and it’s been achieving its goal since 1987. By combining its services/programs with NexBank, many more students will get the chance to go to college.
On the other hand, NexBank has also been involved in a range of other programs. In 2016, this financial institute partnered with Habitat For Humanity and Dallas Neighborhood Homes. This partnership has allowed low-income homebuyers to receive affordable mortgages. This program is known as the Affordable Housing Loan Program, and it’s changing lives for the better. NexBank’s role here is to provide up to $50 million in loan support.
This financial institute will also offer counseling support for the new homebuyers. The Affordable Housing Loan Program will extend into 2021. In addition to that, NexBank has opted to handle all of the closing costs and fees.