After maintaining numerous accounts with US Bank (Personal & Business) for over a decade with no late payments, outstanding credit, and a loyal use of the Banks services, a sudden and unexpected divorce put me in a terrible place financially. I submitted an application to US Bank for a measly $10,000 to help me get by for a few months over the winter so I could get back on my feet. They rejected the loan request within 24 hours. I then emailed their VP of Lending to voice my concerns. His assistant emailed me back and stated that I would be contacted by a local District Manager that would speak to me about my concerns.
I received that call today and it was as if I was talking to a robot, not a flesh & blood banking professional. This "middle man" with the title of District Manager conveyed to me that US Bank's Policies and their Almighty Income to Debt Ratio Calculator prevented the loan from being granted. Seeing how I have an MBA and was a former business owner, I pressed the issue that people write policies and, thus, can make exceptions when needed for the sake of the customer. She apparently couldn't comprehend this as she kept reiterating the US Bank policies. Since it was readily apparent that she was either a) unable and/or b) unwilling to grant the loan request, I thanked her for her time and left the call.
What a sad establishment US Bank has become, whose Big Bank policies fail their customers in their greatest time of need. Where are the Bankers like George Bailey from the classic movie It's a Wonderful Life? Where are the ones that truly care about their customers in their days of hardship and are such a part of the community that it pains them when said community, and its members, suffer due to circumstances beyond their control? I'll tell you this...they are not at US Bank. That being said, for anyone reading this debating where to place your hard earned money, I (as a Christian, 9/11 War Veteran, Father, and MBA) would recommend just about anywhere else; even loan sharks at least provide you with a financial option (albeit a grossly high-interest one, but they at least open the door (per se) if you choose to walk through). When people become just another part of Big Banking's algorithm, instead of being seen as individuals, what a failure the banking industry has become; especially in my case with US Bank.
To note, I will get back on my feet financially, and in the short term. Whether on my own accord or with assistance from another local bank/credit union that actually allows their leaders/district managers the ability to make educated and compassionate financial lending decisions; instead of just relegating said employees to just preach the virtues of their Big Bank policies as if we, their customers/neighbors/friends, were unable to think beyond the arbitrary policy barriers that are put up. However, when it does occur I will promise you this: that I will never, ever use any financial services from US Bank for the rest of my life. So great of a financial loss for US Bank considering over the potential half-a-century of life I, Lord willing, have left...and all of it simply over a personal loan rejection for a $10,000 drop-in-the-bucket.
You don't even need to be an MBA to figure that out. Shame on you US Bank. You have failed me today.