Elgin State Bank

Reviews

• SK

  sandra king

  Feb 19, 2025
  5.0
  I alwsys feel welcome and Patty is super great when I make deposits
• BR

  Byke Ryder

  Apr 28, 2024
  1.0
  Where do I start? Thought this might be a nice change of pace from the typical chain bank with their nice lobby and seemingly welcoming staff. Gave them a shot with financing my new sprinter van. After bringing in tax returns and loads of paperwork and waiting a week for an answer, they finally told me they don't finance vans! Colossal waste of time, and almost lost the van to another buyer. MB financed us at the drop of a hat with no down payment. Easy. Chalked that up to maybe an isolated experience. Gave them another shot. Applied for a business loan for a new building. Same story. Jump through hoops that are unnecessary to evaluate our creditworthiness to see if we meet their interesting terms which could be done in a matter of minutes with a knowledgeable banker and a calculator. Wasted another couple weeks moving at the rate of sludge. Went another route and closing on that in a few weeks in half the time it took for ESB to even look at our application. Thought I'd never work with this bank again after "fool me twice shame on me". After applying for a HELOC with another bank and being approved easily with ample income and 793 credit score in under a week, I noticed an ad for a much lower introductory offer on the APR with these jokers again. Ugh, well it is always nice to pay less to the banks that apparently don't need the money as much as the consumers do, so we applied again. Talked to one of the desk puppets who proudly stated "our underwriter is in house so we don't have to wait for outsourced replies or lags in answers". Seems fair. Told her we have a tight timeline to get this done as we are using the cash for another investment property. Yep, same story. Steve, their underwriter, is about as lazy as they come. Didn't even look at our info until almost 3 weeks later. Then, a response in a canned email that simply said "sorry we have declined you". No explanation, no phone call to work with us as to how to adjust our income/expense portfolio to meet their criteria, nothing. Simply, "no". I'd love to be in a situation where I could turn away dollars from exceptionally credit worthy individuals with plenty of income to repay a small loan backed with personal real estate, investment income, perfect repayment history, and high W2 earnings also. Unfortunately I have to go to work, unlike this guy. He gets paid to literally do nothing all day. I'm wondering what you would need to get approved from them at this point. I guess if you earn less then 200K, have any debt whatsoever, or have less then a perfect 850 score, don't bother applying here. Zero stars. There are 3 other companies getting all the interest this bank could have had if they wanted to actually do what banks do, and lend money to worthy people.
• DL

  Dekovia Livingston

  Oct 5, 2023
  5.0
  Friendly , fast and professional service, don't know what took me so long to do business with them
• IP

  Ivan Perez

  May 25, 2023
  1.0
  We went in to ask a few questions today (May 25th, 2023) between 12:20-12:40pm, and the kid that works as a teller kept trying not to laugh at our questions. Overall our experience with her felt very unprofessional. At the very least she could have tried to understand our questions and try to help us.

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