| PFI Conversation: Talking With One of Iowa’s Largest Banks |
MPF In Focus recently talked with Jeffery J. Ullrich, Senior Vice President, Retail Banking, United Bank of Iowa. The bank’s headquarters are in Ida Grove, Iowa, with 25 offices in western Iowa. United Bank of Iowa has more than $1 billion in assets and is one of Iowa’s 10 largest banks.
Q: Why did United Bank of Iowa turn to the MPF Program as a solution?
A: In 2008, we were looking for a secondary market alternative that was more local and understood our market and some of the challenges we face—whether in rural areas or more populated communities in western Iowa. Working with the folks at the Federal Home Loan Bank of Des Moines, some of whom are from rural backgrounds, turned out to be a real plus.
Q: What benefits of the program keep you coming back year after year?
A: The products and pricing need to compete in today’s environment, but it takes more than that. What keeps us coming back is the same thing that persuades our clients to return and that is service. The MPF Program and Federal Home Loan Bank of Des Moines are in the “assist ya” business.
Q: What is your favorite benefit?
A: The ability to retain servicing rights. That has been a priority—from when we first expanded our residential real estate loan department in 1992 through today. Besides the obvious long-term relationship advantages, it also enables us to serve our clients when they have questions on a loan originated with us.
Q: Describe an example of an experience with the MPF Program that pleasantly surprised you.
A: From the beginning, we appreciated the MPF representatives coming on site to assist in our training. Phone calls are returned on the same day. They understand that courtesy matters.
Q: How does the MPF Program’s pricing help you in your community?
A: The pricing is very competitive in our markets, especially considering we are not selling servicing released.
Q: Final thoughts?
A: What you are being sold is what you will end up receiving: competitive pricing and products combined with service focused on your needs. | |
