clock menu more-arrow no yes

Filed under:

RICHFIELD BANK RATES HIGH IN LOANS

The Valley Central Bank in Richfield during recent weeks has generated the highest number of new loans among the 34 Valley Bank branches in Utah.

The Richfield bank also ranks second in the dollar volume of new loans since they were offered for 9.9 percent interest.The "aggressive" rate on selected, secured loans was offered because of the current economy and the difficulty in generating new loans, said Ferral Huntsman, president of Valley Central Bank.

A customer may borrow as much as needed with maximum of five years to repay as long as the loan is secured, he said.