OneWest Bank Named Best Bank in California by MONEY

PASADENA, Calif., Oct. 30, 2017 /PRNewswire/ -- OneWest Bank, CIT Group Inc.'s (NYSE: CIT) Southern California branch bank, today announced it has been named the best bank in California on MONEY's Best Banks in America list.^[1]

"OneWest Bank is committed to the Southern California community and delivering great service and competitive bank products that drive value for our customers," said Steve Solk, president of Consumer Banking. "We're honored to be listed as the best bank in California for the second year in a row. This recognition demonstrates the dedication of our banking team across our 70 branches and the level of personalized service we offer our customers."

MONEY recognizes OneWest Bank as one the few banks with an extensive network across Southern California that also makes no-fee checking and the ability to earn out-of-network ATM fee rebates easily accessible.

More about the rankings 

MONEY evaluated the largest 90 brick-and-mortar banks, 50 credit unions, and 15 online banks, as identified by bank consultancy firm Novantas. Bankrate.com, MONEY's project partner, collected data on fees, interest rates, and account requirements for checking and savings accounts. Using Bankrate's data, MONEY compared more than 800 accounts and 18,000 data points.

Data was collected in July and August, and MONEY independently fact-checked information for each winner in September and early October.

When selecting state winners, MONEY excluded checking accounts that required a minimum balance greater than $1,500 to either open the account or waive monthly fees. Priority was given to banks whose checking accounts had no (or easily waived) monthly fees and low or no ATM fees. MONEY also sought higher interest rates for checking and savings accounts. Additional factors included J.D. Power customer service ratings, when available, from the 2017 U.S. Retail Banking Satisfaction Study, geographic reach within a state, recent enforcement actions, and mobile app ratings in the iTunes and Google Play stores.

About CIT

Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of Sept. 30, 2017. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. For more information visit cit.com.

For more information visit cit.com and follow us on Twitter, LinkedIn, YouTube and Facebook. Register to receive press releases at cit.mediaroom.com/email-alerts.

CIT MEDIA RELATIONS:             
Olivia Weiss                                                                                    
(212) 771-9657                                
olivia.weiss@cit.com

[1] From MONEY, October 2017 ©2017 Time Inc. Used under license. MONEY and Time Inc. are not affiliated with, and do not endorse products or services of, OneWest Bank.

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SOURCE CIT Group Inc.