CompuBank has just over 6,500 online accounts. USAB is attracting that many new online accounts every month. At the time of USAB's last offering (early Oct.) USAB officially had 0 online accounts, no deal w/Earthlink and no B2Banc.com. USAB should have no trouble raising cash going forward.
compubank.com
(2/2/2000)
CompuBank Raises $36 Million from Strategic Investors SOFTBANK Finance, GE Financial Assurance, Goldman Sachs and Marsh & McLennan Capital
Poised for Fast Expansion of Unique Banking and E-commerce Offerings
HOUSTON, TX. - Feb. 2, 2000 - CompuBank, the first Internet national bank, today announced a $36 million investment in its first institutional round of financing led by SOFTBANK Finance with GE Financial Assurance, The Goldman Sachs Group and Marsh & McLennan Capital participating.
"In its first year, CompuBank was the most widely recognized Internet bank and was rated the number one bank online by SmartMoney.com," said Yoshitaka Kitao, President and Chief Executive Officer of SOFTBANK Finance, " We are confident that CompuBank will continue to be the leader in Internet banking," said Kitao.
"Our world-class investors bring strategic relationships that will be instrumental in building on CompuBank's success," said Frank S. Goldberg, CompuBank's Founder, Chairman and Chief Executive Officer. "These strategic partnerships will fuel exponential growth for CompuBank in the year 2000."
CompuBank, Member FDIC, offers a variety of depository products and services to both businesses and consumers, including: basic checking, interest checking, savings, money market accounts, certificates of deposits, Visa check cards, direct deposit and transfers, free domestic wire services, online check re-order, free bill payment and free ATM services. In addition to free services and exceptional interest rates, CompuBank offers its customers the ultimate convenience and ease-of-use in banking.
CompuBank utilizes affinity-based marketing to businesses and consumers. By targeting Internet users, CompuBank has experienced tremendous account growth on an efficient marketing strategy. Over the past 12 months, CompuBank has experienced over 100% quarter-to-quarter growth in its account acquisition.
CompuBank plans to use the investment for customer acquisition, operational expansion and general capital requirements. |
