THOUSAND OAKS, Calif., Nov. 7 /PRNewswire/ -- Countrywide Bank, FSB, the third largest federal savings bank in the U.S.(1) and a member of the Countrywide (NYSE:CFC) family of companies, today announced plans to expand the bank's financial center network in key growth markets across the U.S. By the end of the year, Countrywide Bank will have nearly 200 financial centers in 39 metropolitan markets. Today, the Bank has 165 financial centers in 33 markets, up from 104 locations at the end of the second quarter of 2007. The bank plans to continue opening financial centers in 2008 and beyond.

"Increasing our financial center footprint has long been part of the bank's growth plans, and we are hopeful that by opening new offices we will be able to better serve our current and future customers in key markets," said Countrywide Bank Managing Director for Deposit and Investment Services Pierre P. Habis. "The majority of our new financial centers are co-located within Countrywide Home Loans offices and each bank office is staffed by a financial services representative and, in many offices, a registered representative who can assist with products and services offered through Countrywide Investment Services, Inc.*," said Habis.

This week the bank opened 10 new locations: Alessadro, Milpitas, Newport Beach and Temecula, CA; Boulder, CO; East Orlando, FL; Plainfield, IL; Burlington, MA; Yorktown Heights, NY and Sugarland, TX. Countrywide Bank is expanding into areas that have already proven to be successful, including California, Texas, Arizona and Florida. For a complete list of Countrywide Bank's financial centers, go to: https://bank.countrywide.com/fincenter2.aspx.

Efficient Model = More Interest

Since its launch in 2001, Countrywide Bank has grown from a $75 million asset bank to one of the 20 largest federally chartered banks in the U.S. with assets of more than $120 billion, according to Habis. "Our growth over the past six years is a testament to the success of our highly scalable and efficient business model," said Habis. "The bank operates as a hybrid savings institution, combining the best of the Internet and efficient financial centers, resulting in both consistently high rates and a physical presence. Our unique model translates into tremendous savings for us, which means more interest for our customers," continued Habis.

Convenience of Funding Electronically

While Countrywide Bank customers have always been able to fund their SavingsLink account online, they can now open a CD online and fund it electronically. "Since we started offering customers the ability to electronically fund their CD accounts, we've seen more and more customers opting to take advantage of this feature," said Habis. "Customers are still able to mail a check or wire funds, but this is an added convenience. In fact, of our customers who open CDs online, half are choosing to fund electronically," continued Habis. "In our view, this is further evidence that people appreciate our unique model and are attracted to our innovative products and features."

About Countrywide Bank

Countrywide Bank, FSB, is a member of the Countrywide Financial Corporation (NYSE:CFC) family of companies. Countrywide Bank offers consumers highly competitive rates on certificates of deposit and money market accounts and, through its family of companies, also offers investment* and insurance products. Customers can review banking products and services, check rates on deposits, and apply for new accounts by phone, online, or at one of 165 financial centers located throughout the country. In addition, the company offers the same superior rates and unsurpassed personalized service to its business customers through its Premier Business Banking and Commercial Banking Divisions. For more information about Countrywide Bank, visit http://www.countrywidebank.com/. Member FDIC. Equal Housing Lender.

*Countrywide Investment Services and Countrywide Insurance Services Products
------------------------------------------------------------------------------------------------

Copyright © 2007 PR Newswire Association LLC. All rights reserved.

Presented by InsuranceHeadlines.com