LendingClub Corporation (NYSE:LC) LendingClub Corporation (NYSE:LC) introduced LevelUp Checking, a new digital checking account that provides cash back on debit card purchases and personal loan repayments through its LendingClub Bank business.
As part of its conditions, the account will offer 1% cash back on debit card purchases for mainly gas, groceries, and pharmacy products once its clients activate direct deposits. But it’s more exciting for customers having a LendingClub Corporation (NYSE:LC) personal loan, as they can enjoy 2% cash back on their timely monthly loan payments using their LevelUp Checking account.
As the Chief Customer Officer of LendingClub Corporation (NYSE:LC) stated,
“LevelUp Checking delivers cash back for essential purchases like gas and groceries while stacking on additional cash back for our borrowers who make on-time payments.”
LendingClub Corporation (NYSE:LC) delivered around a 42% return in one year. While this may not be truly impressive, the recent insider buying can’t be overlooked. During the five years of share price growth, the company has transitioned from loss to profitability. It’s clear that the management’s strategic vision will bring growth well into the future.
LendingClub Corporation (NYSE:LC) is a California-based bank holding company that provides a variety of financial products and services in the United States. The core offerings of the company include deposit and loan products, as well as a lending marketplace platform. Incorporated in 2006, the small-cap company is focused on offering members better borrowing rates and higher savings yields.
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Disclosure: None.
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