Sallie Mae Bank Named One of America's Healthiest Banks

NEWARK, Del.--(BUSINESS WIRE)--

Sallie Mae Bank today announced it has earned DepositAccounts.com's recognition as one of America's healthiest banks. DepositAccounts' annual list measures the health of 6,500 federally insured banks based on a number of factors including asset quality, deposit account growth rates, and capitalization. The list recognizes the top 200 banks that have shown exceptional fiduciary responsibility.

“We are very pleased to earn this recognition as we deliver on our mission of helping families save, plan and pay responsibly for college,” said Raymond Quinlan, chairman and chief executive officer, Sallie Mae. “Our focus on high quality asset growth and conservative funding translate into a well-capitalized banking business that proudly serves America's families as they invest in a college education.”

Sallie Mae Bank is a subsidiary of SLM Corporation, commonly known as Sallie Mae. On April 30, Sallie Mae completed its strategic separation and is now a standalone consumer banking business focused on helping families save, plan and pay responsibly for college. Sallie Mae Bank originates approximately $4 billion of private education loans annually; its private education loan portfolio totaled $7.4 billion at June 30, 2014.

Sallie Mae Bank also offers money market accounts and high yield savings accounts with interest rates at least 10 times the Bankrate.com national average rate, no minimum-deposit requirement and no monthly fees, and certificates of deposit with a $2,500 minimum deposit requirement and no monthly fees. These FDIC insured savings accounts include free mobile banking, enabling customers to securely deposit checks, check balances, and transfer funds on the go. More information is available at www.salliemae.com/banking.

DepositAccounts.com is an online publication focused on storing, updating and publishing savings account data. The site tracks more 250,000 consumer deposit rates that are updated daily, publishes articles on banking, as well as hosts threads for consumer reviews of deposit accounts.

Sallie Mae SLM is the nation's saving, planning, and paying for college company. Whether college is a long way off or just around the corner, Sallie Mae offers products that promote responsible personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.