Progressive Financial Services, Inc.

Report Card
C+
Overall Grade
C-
Debt Collection Grade
Progressive Financial Services, Inc. is rated overall in the bottom 44 percentile (out of 100) based on 84 customer complaints.

Statistics

Complaints Currently In-Progress
Complaints per $100K of Deposits823.7
Complaints Resolved in a Timely Manner100%
Resolutions Disputed by Customer15.5%
Average Time Until ResolutionUnknown

Financial Report

Owner CorporationProgressive Financial Services, Inc.
EstablishedFebruary, 1934
FDIC InsuredFebruary, 1934
FDIC Certificate #013955
Number of Branches9
Total Assets$119.6 Thousand (83rd)
Total Deposits$102 Thousand (83rd)
Total Equity$16.9 Thousand (81st)
Quartarly Net Income$424 (79th)

Contact Information

Corporate Headquarters
676 North Main Street
Mc Kenzie, TN 38201
United Statesflag
Website
http://www.foundationbank.org
Data Summary
Progressive Financial Services, Inc. logo

Grade Summary

Overall, Progressive Financial Services, Inc. received a grade of "C+" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

Grades are also broken down by the financial products offered be each institution. Progressive Financial Services, and Inc. is rated "C-" in Debt Collection. Click on any of the financial products to see how Progressive Financial Services, Inc. compares.

Overview

Progressive Financial Services, Inc. has received 84 consumer complaints since August, 2013 – more than 91% of other banks.

Of those complaints, 100% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Progressive Financial Services, Inc. meets the 60-day response deadline more frequently than 85.1% of other banks.

After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 15.5% of customers dispute Progressive Financial Services, Inc.'s response to complaints — better than 64.3% of other companies.

Most of Progressive Financial Services, Inc.'s customers complain about debt collections with the primary issue being "cont'd attempts collect debt not owed."

Progressive Financial Services, Inc. is primarily a commercial bank with no specific specialization. Progressive Financial Services, Inc. is based in Mc Kenzie, Tennessee and is the 83rd largest FDIC insured bank in America.

Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.

However, even after adjusting for bank size and number of customers, Progressive Financial Services, Inc. receives far more complaints than most other banks. Progressive Financial Services, Inc. recieves more complaints per customer than 99% of other banks – customers are significantly more likely to file complaints than customers of most other banks.

Corporate Headquarters
Complaints by Product
Complaints by State
Complaints Against Progressive Financial Services, Inc.
#Financial ProductSub-ProductComplaint IssueComplaint Count
1Debt collectionCont'd attempts collect debt not owed21
2Debt collectionCommunication tactics18
3Debt collectionFederal student loanCommunication tactics8
4Debt collectionImproper contact or sharing of info4
5Debt collectionNon-federal student loanCommunication tactics4
6Debt collectionOther (phone, health club, etc.)Communication tactics3
7Debt collectionNon-federal student loanFalse statements or representation3
8Student loanNon-federal student loanDealing with my lender or servicer3
9Debt collectionNon-federal student loanDisclosure verification of debt2
10Debt collectionImproper contact or sharing of info2
Responses From Progressive Financial Services, Inc.
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation112112 (100%)16 (14.3%)
Complaints over the Past Year