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Stock Symbol: ING Website: http://www.ingdirect.com Headquartered in Wilmington, DE, ING Direct USA is part of ING Group of the Netherlands, one of the world's largest financial services institutions. ING Direct offers simple and high-paying financial products directly to consumers over the Internet and by phone. The company currently offers online savings accounts of 3.4% which is higher than most retail banks. Since it doesn't have actual branches, it can afford to pay much higher rates on deposits. ING Direct was launched in September 2000. Initially, the company advertised rates of 2.00% for its online accounts but this has increased due to competition and higher interest rates. ING also offers certificates of deposit with rates of up to 4.0% for five years. Customers can also get home equity loans, mortgages, checking accounts and invest in ING operated mutual funds. The company operates cafes in NYC, Philadelphia, Los Angeles and Wilmington where visitors can get coffee, surf the Internet and learn more about ING products. ING Direct is a federally chartered bank insured by the FDIC. Individual deposit accounts are covered to $100,000. The company says it has more than 6 million customers in the US, and 15 million customers served by ING Direct divisions in Canada, Australia, France, Spain, Austria, Italy, United Kingdom and Germany. ING is a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries. ING employs over 112,000 people in 50 countries, including more than 10,000 in the US, and has been operating in America for over 100 years. ING announced it would acquire 104,000 customers and $1.4 billion in deposits from NetBank, which was shut down by the FDIC due to poor performance and mortage defaults. Updated February 10, 2008 |