Springleaf Finance

  www.springleaffinancial.com
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Springleaf Finance Reviews

Updated Jul 11, 2014
Springleaf Finance – “sign”

Springleaf Finance – “sign”
All Employees Current Employees Only

2.7 139 reviews

57% Approve of the CEO

Springleaf Finance President & CEO Jay Levine

Jay Levine

(21 ratings)

33% of employees recommend this company to a friend

Review Highlights

Pros
  • Weekly pay, good benefits, good entry level experience, no Sunday or late evening hours (in 13 reviews)

  • Great pay and benefits, Team environment (in 7 reviews)


Cons
  • Upper management is totally out of touch and in most cases incompetent (in 14 reviews)

  • No room for advancement due to office closings, arbitrary and consistently changing guidelines, poor compensation for miles driven (in 7 reviews)

More Highlights
22 Employee Reviews Back to all reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Not a good place to work.

    Senior Counsel (Former Employee) Evansville, IN

    ProsModest paycheck. They have a cafeteria.

    ConsThe company lends money to individuals, at high rates and collateralized, then contacts them throughout the year and pressures them to refinance, before there has been any significant reduction in principal - only interest payments, thereby incurring new origination fees and extending the time period where they collect high interest payments. The company also makes fees off of force-placed insurance and ancillary products like credit insurance.
    Very small town - management has you by the short hairs once you start because they are the only game in town.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    It's not what you know, but who you know!

    Anonymous Employee (Former Employee)

    ProsI wouldn't recommend this company to my worst enemy. The leadership is a bunch of greedy, self centered, back stabbing fools.

    ConsThis company has gone down hill big time since being acquired by Fortress Investment Group. They are looking to make a quick buck and then stick a bunch of unaware stockholders with a sinking ship. The large increase they are seeing in charge off is only going to get worse as they continue to book substandard business to get the growth required to maintain their great, growing company façade.

    Advice to Senior ManagementI am looking forward to the day when your house of cards comes crashing down on all of you. Just a matter of when, not if.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Springleaf faking reviews

    Assistant Manager (Current Employee) Evansville, IN

    ProsThis would be a good job out of college to work in a Branch and there are some solid employees in Evansville.

    ConsThe management team is totally concerned with the stock price and making Fortress rich, they don't care about the employees and have done everything they can cut costs at he expense of employees. They recently hired a bunch of payday retreads in Chicago to run digital who are posting on Glassdoor to raise the rating, check out the posts from Chicago. The management team is passive aggressive and deceitful, run away from this company.

    Advice to Senior ManagementStep aside and bring in a qualified CEO.

    No, I would not recommend this company to a friend

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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Unprofessional

    Financial Representative (Former Employee) Indianapolis, IN

    ProsI cannot think of any.

    ConsCharged high rates to customers. Manager was unprofessional.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Subprime and Suckers Lending but maintains an illusion of much more

    Senior CAS (Current Employee)

    ProsThe pay is alright and bonuses are decent.

    ConsThe worst work to home life relationship I have ever seen. The company offers poor products, inadequate training, micromanagement, very limited growth opportunities. This is to name a few. You are penalized for taking vacation time as it has a direct impact on your goals and bonuses. Most employees lack respect for their customers and can be down right rude. Favoritism has a great presence in the company and morale is terrible. The work is a joke and underwriting is inconsistent. Bad loans are made to reach goals and you spend the next 8+ months trying to collect delinquent accounts. It is a poor business model. Lend money and when the customer doesn't pay, offer to lend them more money. There is no room to bring new ideas in. Management shoots down creativity and mocks you for making suggestions to improve processes. I could go on much longer but I think you get the gist of a poor culture and work environment.

    Advice to Senior ManagementThe next time you look in the mirror, think about what you contribute to the economy and well being of your employees. See if you can last with a heart and say you feel good about what you do for a living.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Don't work here!

    District Manager (Former Employee) Saint Louis, MO

    ProsWith the current upper management in place I have nothing positive to say here. At one time this was a good place to work.

    ConsUpper management is totally out of touch and in most cases incompetent. Upper management makes all the money and contribute nothing to the cause. They are all so busy covering their own back sides that none of them would stand up for a valued employee if they had to.

    Advice to Senior ManagementFire them all and try again!

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

     

    Company going no where

    Anonymous Employee (Current Employee)

    ProsGood Co workers, easy work,

    ConsPoor upper management, low pay, micromanagement,

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Lending money to people with bad credit doesn't make sense but makes dollars

    Financial Representative (Branch Manager Trainee) (Former Employee) Stockton, CA

    ProsYou get to leave at 5:30 everyday.

    ConsDiscouraged from educating people about money, just take it from those most vulnerable.

    Advice to Senior ManagementTry ethics.

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Very Bad place to work!!! Does not value hard work. Will take advantage of employees

    Financial Representative (Branch Manager Trainee) (Former Employee) Dallas, TX

    ProsThe only reason to work at American General Finance is to gain some work experience. If you cannot find work elsewhere then at least you gaining a paycheck.

    Cons-Very incompetent staff and managers
    - Poor training
    - Will force you to work overtime while not paying you for it
    - Although you are given vacation days, the managers will attempt to limit when and if you take them. I put in for vacation time 4 months in advance to get married, had it approved by my manager, and later had that approval rescinded a week prior to my departure by the District Manager who cited that it was not a good time to take off from work. I was informed that I had to choose if I wanted to take off and possibly face termination. Eventually the DM approved my vacation time but I was already very upset.

    Advice to Senior ManagementMake sure to hire competent staff and make work enjoyable. Dont threaten.

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Get ready to throw out your heart...

    Branch Manager (Current Employee)

    ProsYou will get a lot of inside information on how lending works so you can use this on your personal borrowing needs. It will make you think twice about how you borrow money.

    ConsDo not bring morality to this job; the name of the game is profit. Examples: We have something called Customer appreciation days in November. We invite customer to refinance their account to skip their November and December payments. The purpose of this is to restart their account and collect more interest so we will have a nice profit in January. This of course is not disclosed to our customers and we pretend we are doing this as a favor to them. Management will work with partial truths; for example: when a customer wants a due date change we are encouraged to say we need to refinance their loan in order to do so. This is not true. There are many employees (myself excluded) who will not disclose the fact that there is credit insurance included in a loan. Another thing is the high rates that we charge; we are encouraged to always offer the highest rate possible and then negotiate down if we need to. In some states there is also a 5% fee for processing the loan on top of the higher rate. We are encouraged to offer anywhere from 9% to 18% mortgage loans and use the fact that we can cut the customer's term and save them interest as a selling tool. Are you kidding?

    To make a long story short; most of the practices are legal, but they are immoral. If you still decide to work for this company then you must throw out your heart because you will be doing a disservice to your customers and your community as a whole. Treat others the way you want to be treated, don't offer them 30%.

    Advice to Senior ManagementHow do you sleep at night?

    No, I would not recommend this company to a friend

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