CitiFinancial Opens its 2,500th North American Branch
Laguna Niguel, CA – CitiFinancial North America, the leading community-based lender in the U.S., celebrates the grand opening of its 2,500th branch today, in Laguna Niguel, California. The new branch, one of 300 opened in the U.S. and Canada in the past two years, is part of the 96-year-old company’s North American expansion effort. With 2,500 branches, CitiFinancial North America has the largest distribution network of any consumer finance business in North America.
“Our branch network has grown nearly 15% since 2006 primarily because consumers recognize us as a helpful and reputable lender,” said Mary McDowell, President and Chief Executive Officer of CitiFinancial North America. “We have a 94% customer satisfaction rate, and not many other lenders can say that.”
The company plans to continue its expansion in 2008. “The success of the branches we opened in 2006 and 2007 has paved the way for our 2008 expansion plan, which includes more new branches in California,” continued McDowell. CitiFinancial now has 139 branches in California, its fastest-growing state.
“We work hard to build relationships with our customers,” said Michelle Moreno, Manager of the new Laguna Niguel branch. “We can help people with their short-term and long-term needs, and help them take control of their financial lives.”
As a community-based lender, CitiFinancial has a tradition of involvement in the neighborhoods it serves. “Part of CitiFinancial’s community involvement is our Financial Education program,” said Mark Haderlie, Area Director for Southern California. In 2007, Citi employees in Southern California taught more than 4,500 students and adults about the importance of credit and managing their money.
CitiFinancial specializes in personal and home equity loans for consumers in the U.S., Canada and Puerto Rico, and has more than 200 million customers and $41 billion in receivables. In addition to its core products, CitiFinancial also offers products through its affiliates, including auto loans, insurance, and Citi credit cards.
The new Laguna Niguel branch is located at 28121 Crown Valley Parkway, Suite G. Branch hours are Mondays, Wednesdays, and Fridays, 8:30 a.m. to 5:30 p.m., and Tuesdays and Thursdays, 10 a.m. to 7 p.m.
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