Springleaf Financial Services

193 reviews

Springleaf Financial Services Employee Reviews

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It's a job, nothing more
Financial Representative (Current Employee) –  VirginiaAugust 17, 2012
Springleaf is a typical consumer finance company. You have a pretty regular schedule, 8:30-5 except for Tuesdays which are 8:30-7. Saturdays occasionally, in the morning. The clientele is sub-prime, so the main focus of managers is to crush everyone with a 36% interest rate. Some customers deserve it, but others do not.
There is no loyalty in the company. Managers and district managers will treat you like a pawn and send you to offices all over the district when people are out, and then get on you about your numbers being lower after they took you out of your home office for sometimes an extended period. Your performance is solely on loan production, even the positions advertised as preparing for a management role. All they care about is how many loans you make.
And they will promise you career opportunities, but that is a lie. The only promotions available are to branch manager and to district manager, and you basically have to wait for someone to quit or get fired, then compete with 15 other people who were waiting it out as well. Your basically stuck in the front line position for years, at the least. And this is not the type of place that you can switch departments.
If you want a paycheck, they will give you that, although with terrible benefits (lacking, expensive medical; 3% company match (not up to 3% of your contribution, they only match 3 cents on the dollar)). Other than that it is a repetitive, mindless job that doesn't offer much in terms of career development or marketable skills.
Pros
decent pay, simple work
Cons
no loyalty, extremely limited career potential, no horizontal mobility
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5 yr employee- no employee respect/ moral
sr acct rep (Former Employee) –  butler , paAugust 31, 2012
The hours while working there were 8:30-5 , 1 day 8:30 - 7:00,
In March 2012 , this company laid off over 1000 employees w/ no warning at all. My office and myself personally exceeded company numbers and goals, my reward was a layoff letter and a small severance pkge. Ok so this stuff happened, and yes it was unfair, and myself and my co-worker are going in better directions currently( since there were only 3 of us in the office and they laid off both of us and kept only the mgr).. * This company took a bonus away from me, they were harrassing on a daily basis, and then laid us off - with no reason except " they werre downsizing"...now i look on careerbuilder and see that Springleaf is hiring in my office - for my position only 6 mths after they laid off so many people???? Beware of this company ...they want to get rid of good employees and hire cheaper ones....It doesnt matter how great you sell ( and we did) they just dont care...IM seriously happier not being there - but i feel the need to warn anyone who is looking at this company for consideration....No holiday recognition, bogus contests that dont pay what your manager promises you...and no family oriented anything!
stay away from springleaf- they dont deliver!
Pros
liked my co-worker- when the company staffed one finally
Cons
bogus bonus'/ no holiday recognition/ micro-management/bad raises
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productive work place
SR Personal Loan Specialist (Current Employee) –  Chicago, ILMarch 30, 2015
Hold license in Credit Life Accident & Health and Life Insurance by the State of Illinois, License No. 17213684
Provide customer service by assisting and processing credit and/or insurance applications via in person and over the phone
Consistently meet monthly quota which entails $100,000 in new loans, a minimum of 30 new accounts, and resolve/collect on delinquent accounts
Resolved debtors inquiries and complaints via telephone while providing excellent customer service on a consistent basis to all clients and debtors making sure that the customer received service to their full satisfaction and that any outstanding issues were resolved in a courteous and professional manner
Maintain and build vendor relationships to drive new business
Licensed to sell insurance products/services to clients
Receive and process credit applications including employment verifications and personal record information
Perform routine transactions at an on-line terminal
Process payments and disbursement .Prepare reports, type correspondence and transaction documents, maintain files, handle mail, notarize documents and handle recording and filing
Pros
incentivces, 1 hour lunch
Cons
Quota
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High stress, emotional roller coaster, poor training, high turnover
Sr. Personal Loan Specialist (Former Employee) –  Sapulpa, OKJanuary 23, 2015
Put together daily reports; follow up on loan applications and bring to a conclusion; data entry and loan contract underwriting; solicit new business; collect accounts and reduce delinquency; distribute loan proceeds; provide excellent customer service, and many other various administrative duties.
I learned a lot about myself and my abilities to work quickly and multi-task while under a lot of pressure. I was very successful at my job and I helped the office grow in profits and new money as planned and to stay on target for growth.
Management was so-so at best. There wasn't very much comradery or cohesiveness as a team and that bothered me. We had a high turnover of employees in the 2 years I was with the company.
The best part of my job was the experience and confidence I gained, which made me one of the customer favorites. We were there to help people who truly needed our services and they were so happy and grateful to recieve it. That was the great!
Pros
the ability to work ot; lots of pto; friendly awesome people
Cons
lack of team building and cohesiveness
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Great atmosphere, very rewarding!
Personal Loan Specialist (Former Employee) –  WAJune 25, 2015
I was in a small 3 person office and our district manager would stop in periodically, with constant daily contact. Most typical job duties were performed independently, aside from explaining loan apps to underwriters. However, my coworkers were all very helpful. It was a supportive atmosphere. We all worked together to reach our own goals.

A typical day started with daily reports/logs, nothing too extensive. Moving on to loan apps that come through, ensuring they are complete before sending to the underwriters, signing loan documents, some collection calls to customers who are past due, then finish with solicitation calls to current/former customers.

Great pay with many opportunities to earn more. Once you have met your goal for the month, you are eligible for bonuses every quarter. On top of that, insurance producers earn an extra commission each month on ancillary insurance products.

Free swag during holidays, birthdays, and the frequent free lunches!
Pros
Great atmosphere, very supportive, lots of benefits
Cons
Sometimes slow, had to find something to keep busy.
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Amazing opportunity for sales driven person looking to start a career and earning great bonuses
Personal loan specialist (Former Employee) –  Pueblo, COOctober 22, 2015
This company truly puts their employees first! I had the best manager and was very fortunate to start with a great team. They offer the best benefits as far as medical, dental and vision. Although my time at Springleaf was short, it was very beneficial and rewarding. My manager was so helpful and was never too busy to help when I was lost and confused. Unfortunately, I had to resign in order to move closer to family . My manager believed in leaving problems at work at work and going home to family. He wouldn't ask you to stay later than you're scheduled to. Btw you get paid overtime and they don't get upset if you work too much in overtime. Overall, this job was an amazing opportunity and I would recommend it to any one I know who is deserving of an amazing opportunity.
Pros
Management, Great pay, healthcare, overtime, off weekends, hour lunch, free lunches, great bonuses
Cons
Sales goals are a bit intimidating, stressful at times, no part time opportunity
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Corporate Setting with Small Office Feel
Personal Loan Specialist - AM (Current Employee) –  Ferguson, MOSeptember 11, 2014
I've worked for Springleaf for almost 6 years, and quite a few things have changed since I started in 2008. The finance industry, especially personal lending has seen its ups and downs while the economy has fluctuated. When I started in 2008, we were still in the personal lending business and mortgage industry. Springleaf now exclusively deals with personal lending and is a secondary lender that deals with higher risk customers. My typical day consists of working up loan prospects, submitting them to the underwriter, identifying potential upsells, calling current customers to collect loan payments, assisting potential clients and current clients with questions they may have, offering insurance products packaged in with our loans, helping manage the small branch team, and helping customers meet their financial goals.
Pros
small branch team, good benefits
Cons
no pay raises in three years/underpaid, little opportunity for advancement
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High Turnover with a District Manager who cares only about himself
Personal Loan Specialist (Former Employee) –  Madisonville, KYJanuary 25, 2015
They fired me supposedly at 90 days when I had only been there about 68 days. They said it was because I was asking questions about things I should have known. I was not trained properly and staff did not take time to train me. Most times It was treated like it was a sin to ask about something I didn't know. The district manager is awful person. The branch I worked at was his home branch. He would come in and sit down at his desk, and stay on his phone all day. As a employee at the branch, he would make demeaning comments about everyone else when they weren't there or about others in his district. he was not respectful and cared only about himself. My coworkers, on the other hand, did the best they could at trying to make you fit in. This company is not a good company to work for. If you don't go in and bonus your first month and start topping out, they will get rid of you as soon as they can.
Pros
1 hour lunch
Cons
mostly everything
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Productive and professional setting with constant customer service.
Account Specialist (Current Employee) –  Greensboro, NCJuly 19, 2012
My work day begins at 8:30. I first start the day by calling delinquent accounts, followed by taking applications and and posting payments to customer's accounts. I also solicit new customers through out the day through phone contact. I have learned many valuable assets at my job such as time management, and customer service skills as well as acquiring a life insurance license. I have a diverse group of co-workers that I interact with daily and have various working relationships with. I have no real challenges at my job which is another reason I am interested in moving on to new opportunities. The most enjoyable part of my job is being able to provide the proper and and most convenient customer service that they desire.
Pros
mileage reimbursements, experience in customer service, and acquiring licenses.
Cons
benefits and lack of team work throughout the office.
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To be employed with a company I can advance in and has fun low stress environment
Sr. Customer Account Specialist (Current Employee) –  Carbondale, ILFebruary 1, 2013
Daily opening of cash drawer, review unfinished applications or new customer applications to completion. Walk in customer payment processing or loan applications. Daily solicitation calls and delinquency calls, processing of paid documents on paid accounts, pay branch expenses, follow up on any return checks, follow up with local counties to verify property taxes are paid and insurance companies to insure that insurance is in place where needed.

The best part is letting customers know they have been approved for the loan they requested and possibly more to better their personal financial position.

We do work closely with each other and help other branches when they call and need me.
Pros
bonus and incentive programs to make you want to excell at your job
Cons
possible late hours. no increase in hourly rate of pay now on a pay freeze
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Had great advancement opportunites and I enjoyed working with my co-workers because we always worked as a team.
Customer Account Administrator (Former Employee) –  Salisbury, MDJuly 3, 2012
Over the course of the 18 years I was employed with the company I was able to advance from a Customer Account Specialist to a Branch Manager. There were always contests going on and I was awarded," Employee of the Month" several times over the course of the years. Also I was able to be in the 1 million dollar club 4 years straight before coming a Branch Manager. I was also awarded the Ruby level plaque several time for my insurance sales. The job was very challanging but I enjoyed working there because I was able to learn a variety of things in different areas. This job also gave me the opportunity to work with different co-workers and customers with different views and opinions and to be able to deal with each on an individual level.
Pros
contests, advancement opportunities
Cons
benefits
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Productive environment with a teamwork mentality
Intern Financial Representative (Former Employee) –  Pittsburgh, PennsylvaniaOctober 12, 2015
A typical fay of work is taking as many credit applications as possible and getting people who qualify a loan. The job is numbers based and there are goals to try to meet, but job security is not dependent on that. The people that work there are all enthusiastic and eager to do well. The offices are small, which allows you to personally know your coworkers. This allows you to be more personable at work and creates a great environment. I learned how to problem solve on my feet with customers who were behind on their payments and provide possible solutions to them, I also learned how to deal with different attitudes from different customers and guide my approach to their personality. The most enjoyable part of the job was interacting with my coworkers.
Pros
Always someone to help
Cons
Customers can be tough
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Springleaf is a good company to work for.
Sr. Assistant Manager (Current Employee) –  Warren, OHJanuary 3, 2013
Springleaf financial services, formerly known as American General Financial Services, is a very good company to work for. They give you extraordinary training in sales and collections along with getting you licensed to sell all insurance and to be a mortgage loan originator. Management works closely with financial reps. and forms strong bonds. There is a very family like atmosphere in every office. The hardest part of the job is, of corse, the human aspect. When you are selling loans, insurance, and mortgages and trying to collect delinquent accounts the biggest problem is overcoming objections. The job, however, is all round enjoyable. You have a good schedule, you have a lot of freedom, and the pay is very good to those who perform well.
Pros
pretty much everything.
Cons
failing economy has caused cuts in staff and benefits.
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enjoyable work environment, loved the customers
CUSTOMER ACCOUNT SPECIALIST (Former Employee) –  Waipahu, HI (Waipo)February 21, 2015
enjoyed the people I worked with as well as the customers. Too bad they downsized as we were not allowed to solicit new business and Hawaii operations closed down branches and only 1 branch remains. Customer service was very important and learned that answering the phone with a smile conveyed friendliness to whoever was calling. Did the daily deposits, posted mail/over the counter payments, did light collection work, took loan applications and processed them for approval/denials, purchased retail contracts from furniture venders and still hold my Notary Public license - my commission expires 2/27/2016. Did copying and faxing, processed paid in full files, filing.
Pros
hour lunches, paid vacations, life/dental/vision insurances
Cons
raise freeze when we were bought in 2011
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great job if you like taking advantage of unfortunate people
sam till the co removed that title to save money (Former Employee) –  ravenna ohioApril 25, 2013
had the shadiest group of employees I have ever worked with especially my district manager who allowed an employee to steal from the company even though was made aware of this situation on several occasion, pay freeze, horrible work environment, pitted against employees to steal as much as possible from illwitted customers. offshoot of AIG, so that should give most intelligent readers a pretty solid insight to the type of place slfs really is. District manager had his group of homies who he would allow to get away with murder while topnotch sales people, yes , I am talking about myself, he would destroy their reputation with futile lies and narcisstic behaviors.
Cons
pay freeze, company billions of dollars in debt, stay away
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I like Springleaf, but it's not for me.
Full Time Employee (Former Employee) –  Easley, SCDecember 11, 2012
I liked working at Springleaf, but I don't feel like that's where I want to spend the rest of my life. I love people and working with the public, but the constant calling and begging people to come pay gets disheartening. It's not that I couldn't do the job, I just didn't enjoy it. We would have to work late nights to make collection calls which made me have to make outside arrangements for my son. The daycare closes at 6pm and I usually get off work at 5:30. It seemed pointless to have to pay full time daycare when I was constantly having to call someone else to get him on late nights or Saturdays. One good thing about the job was that I loved the people I worked with.
Pros
good working environment, bonuses
Cons
late hours, making outside arrangements for my son, taking advantage of customers
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Heavy focus on independent production and drive
Branch Manager (Former Employee) –  Newport News, VAMarch 5, 2015
A typical day consists of taking applications for personal loans from online applications, phoned in applications, walk in customers, and external "warm" calling to existing and former customer. There is little down time as personal monthly goals are constantly increasing and pressure to meet goals is always present. Along with loan goals, everyone is also responsible for collection calls and a monthly collection goal for the branch based on individual results. A "what have you done for me lately" environment from upper management.
Pros
competitive salary for market with commission and bonus options, hour long lunches, limited weekend hours.
Cons
constant pressure for increased performance, disconnect between hq and local branches.
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good company...upper management can be somewhat difficult
Branch Manager (Former Employee) –  Petersburg, VAApril 30, 2014
With the company 6 years. Worked my way up from a Financial Representative to a Branch Manager. Salaries became stagnant. But there was an incentive program implemented but was very hard to hit. If you didn't hit the incentive, upper management made it seem as though you weren't doing your job.
Heavily micromanage by upper management. As a manager you could work 40hrs a week but don't expect to keep your job long. I didn't mind working the 45-50hrs , but it just seemed like whatever I did was never enough.
As a general loan processor / customer account specialist work was fun, face paced and you could make some decent money. But as a manager it could be tough at times. I enjoyed the work. Just wish things would have ended a little differently.
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Must get into a branch with a strong supportive manager to succeed.
From Financial Rep to Branch Manager (Former Employee) –  Inland Empire & San Diego CountiesJanuary 16, 2012
10 years experience working for this company. In my opinion, they are looking for cheap workers willing to sell and up-sell the un-sellable. Putting the customer in a worse position then before our loans. Upper management is too far separated from the front lines of lending to know that their requirements are unattainable goals unless only 2 people run the branch. I lost my branch with the recession & was put into a branch I wasn't happy with. I was unable to get the transfer I repeatedly asked for.
Pros
small branch environment for good customer service, benefits offered
Cons
showing appreciation is scarce, unrealistic expectations, unattainable "goals" are requirements
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Met many people from all walks of life.
Customer Account Administrator (Former Employee) –  Oaklyn, NJMay 14, 2013
We spent the majority of the time helping customers with their borrowing needs. Completing customer applications, processing the application then closing the loan. We worked as a team for the benefit of the customer. I spent a large amount of time in collections. Helping customers come to solutions regarding their loan upon default and continual follow-up and/or recommending and/or instituting further collection activity as necessary. The hardest and also the most enjoyable part was coming to a good resolution for the customer and the company in an adverse situation.
Pros
good work place comraderie among co-workers.
Cons
sometimes being too shor staffed to meet good customer service.
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Overall rating

3.5
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