LendingClub

Headquarters

2701 N Thanksgiving Way
Lehi, UT 84043
See all branch locations →

Notable Rates APY Vs.Others
Savings 3.25% 4.01% →
1-Year CD 4.00% 4.50% →
2-Year CD 4.10% 4.73% →
5-Year CD 4.10% 4.75% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 1.93% →

2022 Overview

General Bank Information

LendingClub is an FDIC insured institution located in Lehi, UT. It was founded in 1987 and has approximately $5.66 billion in assets. Customers can open an account at one of its 3 branches.

FDIC Insured Yes
FDIC Certificate # 32551
Date Established 1987
Assets $ 5.66 billion
Loans $ 3.87 billion
Deposits $ 4.59 billion
Capital $ 760.22 million
 

For a more detailed analysis of LendingClub's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - November 28, 2022

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Online Savings
3.25% $0 - Learn More
CD Rates APY MIN MAX
6 Month CD
0.10% $1,000 - Learn More
9 Month CD
0.10% $1,000 - Learn More
1 Year CD
4.00% $2,500 - Learn More
18 Month CD
4.05% $500 - Learn More
2 Year CD
4.10% $500 - Learn More
3 Year CD
4.10% $500 - Learn More
4 Year CD
0.10% $500 - Learn More

Int Checking Rates APY MIN MAX
Radius Rewards Checking
0.10% $2,500 - Learn MoreShow Less
Rewards Checking
0.10% $100,000 - Learn MoreShow Less
Checking Rates APY MIN FEE
Essential Checking 0.00% $0 $9.00 Learn MoreShow Less

Bank Offers

Lending Club Bank Raises Its Online Savings Rate to 1.05% APY
Jun 1, 2022

This move represents a 20 bps increase in its savings rate.


Bank Online Offers

Radius Bank raises High Yield Savings Rate to 1.96% on Balances over $25,000
Aug 31, 2018

Radius Bank has raised its high yield savings rate on balances over $25,000 from 1.86% to 1.96%.   Compare all online savings rates here.


 

Loan Rates - November 28, 2022

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for LendingClub Bank, National Association

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2022

Lender APR Rate (%) Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
6.121% 6.000%
0.88 points
$3,245 fees
$1,499 Learn More
PADDIO
NMLS ID: 1907
6.415% 6.250%
0.75 points
$4,375 fees
$1,540 Learn More
Rocket Mortgage
NMLS ID: 3030
7.400% 7.250%
1.00 points
$3,750 fees
$1,706 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2022

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR 6.490 %
After Intro: 7.500 %
Intro Period: 12 months
$25,000 Learn More
More Info
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
6.240 %
$0 Learn More
More Info

Note to LendingClub Bank, National Association
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

LendingClub branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


LendingClub Locations



Climate Initiatives

LendingClub Bank, National Association is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

Financial Details

LendingClub Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of LendingClub. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
LendingClub U.S. Bank Average
2.83% 4.06%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of June 30, 2022, LendingClub had $28,410,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $760,221,000 in equity and $243,260,000 in loans loss reserves. That gives it a Texas Ratio of 2.83%.

Return on Equity
LendingClub U.S. Bank Average
22.36% 9.98%

LendingClub has a Return on Equity of 22.36% versus the BestCashCow average of 9.98%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
LendingClub U.S. Bank Average
13.42% 10.23%

LendingClub has a Capitalization of 13.42% versus the BestCashCow average of 10.23. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

LendingClub Balance Sheet Analysis

As of June 30, 2022, LendingClub had assets of $5,662,760,000, loans of $3,874,272,000, and deposits of $4,591,841,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

June 30, 2022
ASSETS
Cash & Balances due from depository institutions $ 1,004.60 million
Interest-bearing balances $ 981.59 million
Total securities $ 370.57 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 3.87 billion
Loan loss allowance $ 243.26 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 107.31 million
All other assets $ 285.83 million
     Total Assets $ 4.90 billion
LIABILITIES
Total deposits $ 4.59 billion
      Interest-bearing deposits $ 4.26 billion
      Deposits held in domestic offices $ 4.59 billion
      % insured (estimated) 61.28%
Federal funds purchased and repurchase agreements $ 0.17 million
Trading liabilities N.A.
Other borrowed funds $ 123.44 million
Subordinated debt N.A.
All other liabilities $ 187.09 million
      Total Liabilities $ 4.90 billion
      Shareholders’ Equity $ 760.22 million

Summary Income Statement

June 30, 2022
INCOME AND EXPENSES
Total Interest Income $ 219.98 million
Total Interest Expense $ 9.86 million
Net interest income $ 210.12 million
Provision for loan and lease losses $ 123.08 million
Total non interest income $ 395.46 million
Total non interest expense $ 375.10 million
Pre-tax Net Operating Income $ 107.41 million

Bank Loan Profile?

The top three loan types in LendingClub’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and 1-4 Family Residential Loans.

Compared to other banks, LendingClub’s loan portfolio does not show any specific loan specialty.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 4.57
Multifamily
Mortgages
0.69
Credit Card Loans 0.00
Consumer Auto Loans 3.62
Small Business Loans 0.79
Construction and Development Loans 0.53
Commercial Real Estate 7.54
Commercial and Industrial Loans 6.88
Farm Loans 0.00

Customer Reviews for LendingClub (22)


  • November 12, 2022 |

    I was shopping for deposit rates in August, and NerdWallet, a site I had previously trusted, had it on their list. I was unaware they took deposits. They are the only bank that ever duplicated a transaction on me in my iife! They overdrew me, but fortunately, Discover was very helpful, and walked me through the overdraft protection process, including temporarily removing it, so LendingClub could not take even more. Rates have not kept up, and Discover now nearly pays as much. I did receive a $100 courtesy credit from LendingClub, but honestly, I could have done without the stress! Online transfers of depoists and withdrawals have been working normally. They are slower on withdrawals than I am accustomed to, and the day to expect it to transact is listed in the email they send. I have made adjustments to the date based on the email (reset earlier).

  • October 26, 2022 |

    Online Savings Rates

    Tables like this can mask the fact that a bank is slow to raise. LC was at 2.25% until recently when other banks were already over 3%. Now they jump up and appear like a competitive bank. They aren't. Also, a poor interface. Would avoid until they prove they can remain competitive.

  • September 23, 2022 |

    Online Savings Rates

    I know that the bank is supposedly FDIC insured but the entire soft money lending thing upon which this business is predicated is about to go go under so look out below!

  • September 17, 2022

    Online Savings Rates

    Atrocious bank interface makes me nervous so I am out + bank is no longer a rate leader. (Phone rep was very pleasant and helpful but she could not fix the interface)

  • June 16, 2022

    Online Savings Rates

    After going thru the process of opening an account, they revealed a $5000 limit on transfers. Should have been shown before, an untrustworthy omission.

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