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| Created in 2000, MetLife Bank has proven itself to be one of the leading direct banks in the United States as well as a strategic business unit for MetLife, representing added revenue, cross-sell opportunities, and a significant source of customer acquisition. |
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| The customer and deposit growth MetLife Bank has seen in recent years continued in 2006 as the deposit base grew 7% to $4.6 billion. |
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| MetLife Bank generated $300 million in new deposits in 2006 and, for the first time, the Bank exceeded 100,000 customers with approximately two-thirds being new to the MetLife family of companies. |
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| MetLife Bank offers its products through multiple distribution channels, including the Internet, a dedicated call center, more than 3,100 MetLife agents, and through Institutional Business. This multi-channel distribution strategy has been a differentiator in the marketplace and a critical reason for the Bank’s success, along with a strong brand name and savings rates that are among the highest in the industry. The Bank boasts higher average account balances in its money market/savings accounts than the industry average, and consistently earns high marks for customer satisfaction. |
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| To differentiate itself in the marketplace and address a growing consumer concern, in 2006 the Bank introduced a robust, concierge-type Identity Theft resolution service for free to all of its depositors, becoming the first national banking institution to provide this level of service on a broad scale, regardless of whether the identity theft occurred with a MetLife Bank product. The Bank also introduced home equity lines of credit as a complement to its mortgage offerings. To better meet the needs of its agents and customers in key growth markets, the Bank also created a Regional Banker network of individuals who work closely with MetLife agents and advisors to heighten awareness of the wide portfolio of MetLife Bank products. All this has allowed MetLife Bank to continue to build momentum. |
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| "Through my involvement with the Bank, I’ve had opportunities to connect with customers whom I may not have otherwise been able to reach. MetLife Bank provides me with the opportunity to help people free up money, and also, better protect themselves by introducing them to other great products, whether that’s property and casualty, life, annuity or mortgage products. The Bank has been a great door opener." |
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| –Rick Fortune, functional manager, MetLife’s Agency Distribution Group |
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