Currently, eloan®1 is not offering deposit products. Instead, our primary focus is on offering, through our referral partners, consumer loans and in helping you find the right financial products for your specific needs.
If you started an account opening process before March 31, 2017, you will be able to complete it before May 12, 2017.
Effective Monday May 15, 2017, your current eloan® deposit products will become Popular Direct products. Popular Direct is the direct online channel owned and operated by Banco Popular North America (BPNA), the same banking institution that maintains your eloan® account.
In the coming weeks, you will be receiving more details by both mail and email regarding the upcoming transition. For more information, visit: www.populardirect.com/eloan.
In the meantime, you can continue accessing your account the same way you do today.
Let us introduce you to Popular Direct for all your Savings and CD needs. Popular Direct is the direct online channel owned and operated by BPNA, the same banking institution that maintains your eloan® account.
New look, new feel, yet no changes to your rates or FDIC coverage.
1All deposit products offered through Eloan, Inc. (eloan®) are opened through Banco Popular North America (BPNA), a FDIC-member institution and a New York state chartered bank insured by the FDIC that is the direct parent company of eloan® (i.e. eloan® is a wholly-owned subsidiary of BPNA). Processing services are provided by BPNA. All deposits with BPNA are insured for the maximum amount allowed by law, and all balances on deposit with BPNA (whether directly or through eloan®) would be combined for purposes of determining FDIC coverage eligibility. Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category. For more information about FDIC insurance coverage,visit http://www.fdic.gov/deposit/covered/.
2All Popular Direct deposit products are offered by, and will be opened through, Banco Popular North America (BPNA). BPNA is a Member FDIC institution and a New York state chartered bank. Processing services for all Popular Direct deposit products are provided by BPNA. All deposits with BPNA (including deposits through Popular Direct deposit products) are insured by the FDIC up to the applicable maximum amount allowed by law for each deposit ownership category. All balances for Popular Direct and BPNA deposits would be combined for purposes of determining FDIC coverage eligibility. For more information about FDIC Insurance coverage of deposit accounts, visit https://www.fdic.gov/deposit/deposits
Important information about procedures for opening a new account: Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.