Bankrate.com Says ING DIRECT Is A Winner!Business Editors WILMINGTON, Del.--(BUSINESS WIRE)--May 7, 2001 ING DIRECT ING Direct is a branchless direct bank with operations in Austria, Australia, Canada, France, Germany, Italy, Spain, United Kingdom and the United States. ING Direct is part of the ING Group. It offers services over the Internet, phone or by mail. has received the Bankrate.com(R) Top Tier award for consistently offering annual percentage yields (APYs) that were among the highest reported in 100 Highest Yields(R) for first quarter 2001. "This award validates what ING DIRECT offers the consumer - great deals on saving coupled with simplicity and ease-of-use," remarks Arkadi Kuhlmann, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ING DIRECT U.S.A. "Over 100,000 consumers have discovered a better way to save by taking advantage of ING DIRECT's products, since we opened last September. We offer what traditional banks can't and pure Internet banks won't, great deals on our Orange savings products with high rates and no minimums or fees, that enable consumers to increase their saving rate." "The Internet is a fabulous source of information, but it can be confusing con·fuse v. con·fused, con·fus·ing, con·fus·es v.tr. 1. a. To cause to be unable to think with clarity or act with intelligence or understanding; throw off. b. because there's so much noise. Sorting out the good from the bad can be daunting daunt tr.v. daunt·ed, daunt·ing, daunts To abate the courage of; discourage. See Synonyms at dismay. [Middle English daunten, from Old French danter, from Latin and consumers shouldn't have to trade safety and security for a better deal. Knowing that Bankrate.com is a source that consumers trust to find great deals on financial products, makes the recognition the award conveys that much more prestigious." The Bankrate.com Top Tier award assists individual consumers in identifying those institutions that consistently offer high-yields on their FDIC-insured deposit products from other high-yielding deposit products. Being able to determine which institutions consistently offer high-yields is critical to consumers so that they can easily determine whether they are likely to need to move funds due to dropping yields on either money market accounts and/or certificates of deposit at time of renewal. "With most banks, you have to have all your business there to get a better deal," Kuhlmann observes. "Once they have you locked in, the temptation is for traditional banks to nickel-and-dime you to death with small print, fees and introductory rates that just disappear, and cost you more in the end. It's a phyrric victory to get an extra quarter percent out of traditional bankers because they just get it back from you another way, like fees. We're different because we offer great deals on all our products every day with no strings attached. There's no small print, no asterisks, no catch. We don't want you to move your checking account or credit card, we just want you to look at our offers when you're shopping for a solution to meet your savings or borrowing needs." Kuhlmann describes the banking industry by stating, "there are many startup Internet banks, some of which are really solid, but many will not survive and will be taken over by traditional banks. We tell people that ING DIRECT is part of ING Group ING Groep N.V. (NYSE: ING, Euronext: INGA) (known as ING Group) is a financial institution of Dutch origin offering banking, insurance and asset management services. ING once stood for Internationale Nederlanden Groep. , one of the world's 10 largest financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. companies, and a world leader with retirement products, insurance, investment management and banking." Headquartered in Wilmington, DE, ING DIRECT is the operating name of ING Bank, fsb (Member FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). ), a federally chartered savings bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. , and part of ING Group (NYSE NYSE See: New York Stock Exchange :ING), one of the largest financial services institutions in the world. ING DIRECT has more than 100,000 customers and more than $1.4 billion in assets as of March 31, 2001. For product information or to open an account, visit ingdirect.com or call 1-800-ING-DIRECT. |
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