Sallie Mae Bank
Sallie Mae Bank is a mid-sized bank headquartered in Murray, UT. Sallie Mae Bank has deposits of $6.7 billion, and was established in November 2005.
About Sallie Mae Bank
Sallie Mae (NYSE: SLM), commonly known as Sallie Mae, is the nation’s leading saving, planning and paying for education company. Since its founding almost four decades ago, the company’s saving programs, planning resources and financing options have helped more than 31 million people make the investment in higher education.The company helps families save for college through 529 college savings plans, through its high-yield savings accounts and CDs, and through its Upromise savings program.
The company offers innovative private student loans that help customers save money and offer shorter repayment terms. In addition, Sallie Mae offers planning tools and resources to assist students, parents, and guidance professionals with the financial aid process.
Through its subsidiaries, the company manages $182 billion in education loans and serves 10 million student and parent customers. In addition, the company’s Upromise program has enabled 12 million members to earn more than $525 million in rewards to help pay for college. Its Upromise affiliates also manage more than $25 billion in 529 college-savings plans. Sallie Mae offers services to a range of institutional clients, including colleges and universities, student loan guarantors and state and federal agencies.
Sallie Mae is listed on the Fortune 500 and is one of the Top Innovators in IT according to InformationWeek. The company also has been recognized as one of the 100 Best Corporate Citizens according to Business Ethics magazine and one of the top 30 companies for executive women by the National Association of Female Executives. Read about these and other awards received by Sallie Mae.
While Sallie Mae was originally created in 1972 as a government-sponsored entity, the company began privatizing its operations in 1997, a process it completed at the end of 2004 when the company terminated its ties to the federal government. Today, the company is a publicly held, private sector company, governed by a board elected by shareholders. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.