THE ONLY Community-Owned RF (Riba Free) National Bank In America
We serve ALL STATES

Serving the Community Since 1982

ABOUT US
AN OVERVIEW OF YOUR BANK OF WHITTIER, NA

The Bank of Whittier began Its operation at its present location in Whittier California on December 20, 1982; 42 years ago.

The Bank of Whittier, National Association (“Bank of Whittier” or “Bank”), is a nationally chartered depository institution insured by the Federal Deposit Insurance Corporation (FDIC) and supervised by the Office of the Comptroller of the Currency (OCC).

A group of Community Members purchased the Bank in 1998. A new management team was installed in 2003 with the mandate of implementing a Unique and conservative banking and financing discipline branded RF Banking and Finance. RF stands for Riba/Ribit Free.

The Bank is an Internet-Operated Bank serving all states. It has two anchor locations:

Los Angeles, CA

15141 Whittier Blvd., Whittier, CA 90603

One office in Whittier (a suburb of Los Angeles), California which serves New Mexico and all states west to the Pacific Ocean north and south [562-945-7553], and

Dallas, Texas

1431 East Spring Valley Road, Richardson, Texas 75081

Another office in Richardson (a suburb of Dallas), Texas which serves all states east of the state of New Mexico to the Atlantic Ocean North and South [469-330-9900].

The “RF (Riba-Free)” Banking Discipline

Bank of Whittier is a full-service financial institution that specializes in the RF (Riba-Free) banking discipline which relies on an alternative methodology for financing, evaluating, and pricing bank products and services.

The RF (Riba-Free) unique banking and financing discipline focuses on full disclosure in a fair and honest way with our customers as members of our own families advising them about what is best for their families.

The discipline looks at each financing transaction as an investment and not as a money renting operation at a rental rate called interest rate.

To illustrate the RF Discipline, using a loan request to purchase a home, the model looks at buying the property as an investment [and not as a money renting operation at a price called interest] for both the customer and the bank. Both the customer and the bank credit analyst research the current rental value in dollars per square foot in the live market of a similar property located in the same neighborhood. The average rental is used to calculate the rate of return on investment. The analysis helps the Bank and the customer to determine if buying the property is a prudent investment decision and that the price is appropriate to avoid participation in an economic price bubble.

This discipline has been the main reason for the stellar performance of our loan portfolio. The RF discipline has enabled the Bank of Whittier to help homebuyers avoid participating in housing price bubbles. In fact, Bank of Whittier customers had minimal losses during the crisis of 2008. Moreover, the Bank’s nonperforming loans and mortgages were far below the levels experienced by other banks during the crisis, as well as the subsequent recession.

OUR MOTTO IS:
We DO NOT RENT MONEY At the Bank of Whittier.
We INVEST our time and experience in You, Your Family & Your Business.
We are Riba/Ribit Free.

The Bank of Whittier, NA Is:

• A National Bank Regulated by the Federal Department of Treasury’s Office of the Comptroller of the Currency – OCC.
• Serves ALL 50 States Riba Free by Implementing a CRA Strategic Plan.
• Offers the Same Services offered by Major Banks but in a Community Setting: We offer online banking, mobile Banking, a Smartphone App, Zelle and an ATM Card which is accepted at all Bank of America and Citibank TTM Machines to obtain cash with NO FEES. It is also accepted at over a million ATMs worldwide.
• A Socially Responsible Bank. To the best of our abilities, we Strive not to Finance businesses dealing in alcoholic beverage sales or production, gambling, promiscuous activities, speculation and/or un-ethical & environmentally irresponsible and damaging activities.
• A True Private Bank That Serves You – our customers - on a Personal Basis from sitting down at the exclusive sit-down-Teller Station to Conducting Your Business With Your Own Experienced And Highly Educated Private Banker.
• Committed to care about Its Customers who are Our Family. For example, if you have written a check without sufficient funds to cover it we do not activate an overdraft which costs you high fees and excessive interest. We call you to cover to avoid bouncing your check and impacting your reputation.
• Committed To Investing Time, Experience and Financial Wisdom In You, Your Family And Your Business Before We Invest Our Money.
• Prompt In Responding to Your Credit and Banking Needs. Your application Is processed, analyzed and decided upon at The Bank of Whittier.
• A Firm Believer in Supporting Local Community Members and Businesses.