Medallion Bank is Celebrating its 20th Anniversary in 2024 – RVBusiness – Breaking RV Industry News
Medallion Bank (Nasdaq: MBNKP), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, is celebrating 20 years of specialty financing, according to a release.
During this time, Medallion Bank has served recreational vehicle and marine dealerships by offering financing options for consumers, including those who have credit challenges. Each year, Medallion Bank helps thousands of individuals and families buy the RVs, boats, and other recreation products of their dreams. The bank has become the go-to lender for dealerships to easily manage the financing process with technology tools balanced with exceptional, personal service.
Medallion Bank opened its doors in December 2003 and entered 2004 with $22 million in assets. The bank now has more than $2 billion in assets, with recreation lending representing the largest segment of the Bank’s loan portfolio.
The bank’s other lines of business include helping individuals and families finance home improvement projects and making other consumer loans through strategic partnerships with financial technology companies. Popular financed improvements include roofing, siding, kitchen and bath remodels, windows, and outdoor living spaces.
About Medallion Bank
Medallion Bank specializes in providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners. The Bank works directly with thousands of dealers, contractors and financial service providers serving their customers throughout the United States. Medallion Bank is a Utah-chartered, FDIC-insured industrial bank headquartered in Salt Lake City and is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN). For more information, visit www.medallionbank.com.
