Need a Loan?

For more than 10 years, Toyota Financial Savings Bank has focused on helping dealers. Now it’s expanding its reach to team members, starting with relocation mortgages

June 04, 2019
Under Construction -- Janette Hostettler adds her signature along with those of her fellow team members at a "first steel" ceremony in April for the new Toyota-Mazda joint venture manufacturing plant that's being built in Huntsville, Alabama. Meanwhile, the vice president of production recently worked with TFSB to secure a mortgage to build a new home there for her and her family.

Changing jobs and moving to a new community is often stressful, even if you’re a team member who’s excited about embracing a new challenge within the organization.
 
Toyota Financial Savings Bank (TFSB) would like to help.
 
About a month ago, One Toyota’s internal bank began offering mortgage services to team members going through company-sponsored relocations. Since 2004, TFSB has focused primarily on supporting Toyota and Lexus dealers, including offering mortgages to their eligible employees. Extending that offer to team members was the logical next step.
 
“Our focus over the past year or two has been on finding ways to support Toyota’s value chain,” says Lara Aragon, TFSB national manager. “We have a proven track record of providing residential mortgages and personal loans to our dealer partners. Offering similar services to team members is a natural progression of that effort.”
 
How Does It Work?
 
If you’re facing a company move, you’ll be contacted by either TMNA or TFS’ relocation partner agency. They will provide a summary of the benefits available to you, including the new TFSB mortgage services. If you’d like to explore that option, you can apply by phone or online.
 
In most cases, Aragon says TFSB will be able to provide a pre-qualification decision within hours of receiving the required information.
 
“Each application is different,” she says. “But our loan officers will work with team members to get them what they need quickly, accurately and with the utmost respect for privacy. In almost every instance, we’ll be able to pre-qualify you within 24 hours.”
 
Better yet, this new service has been integrated with the company’s existing New Home Purchase Assistance benefit, where Toyota reimburses team members for eligible closing costs. For mortgages provided through TFSB, those costs will be billed directly to the company. So, team members won’t have to foot the bill up front, submit an expense report and wait for reimbursement.
 

A Happy Customer 

It’s still very early days. But the new offering already appears to be a big hit.
 
Janette Hostettler, vice president of Production at Mazda Toyota Manufacturing, United States (the new joint venture plant in Alabama), was one of the first to take advantage of it. Before taking on this new challenge, she spent 18 years with Toyota at Toyota Motor Manufacturing, Indiana at the Princeton plant.
 
“I'm thankful for this tremendous opportunity, but it also life-changing,” says Hostettler. “My family still lives in Evansville. I leave there very early in the morning on Monday to make the five-hour drive to Huntsville, then return late Friday night.”
 
That will end by December, when Hostettler and her family move into a new home they are building in Huntsville. She is securing the necessary mortgage through TFSB.
 
“They have been fantastic,” she says. “This has been a very stressful time for me with a new job and a new location. So when it came to the mortgage, the last thing I wanted to do was talk to 10 different lenders and submit 10 different applications. Knowing Toyota and how trustworthy it is, we felt very comfortable turning to this new program for help. We soon had a pre-approval letter. And the rate was very competitive. It was simple, seamless and — most importantly — stress free. I’m very thankful Toyota thought to make this available to its team members.”
 
Just the Beginning
 
The mortgage program is likely just the first of several TFSB offerings to team members. The bank is currently partnering with TMNA Corporate Strategy to conduct surveys and focus group sessions in search of other opportunities for collaboration.
 
“Like all Toyota entities, we listen carefully to the voice of the customer,” says Aragon. “We take great pride in satisfying our dealer customers. And we’re committed to delivering the same high level of service to team members. Odds are, there will be more products and services to come. Stay tuned for the future.”
 
For More Information
 
To learn more about loan products and services being offered, contact Nicki Reid (925-487-7574 or nicki_reid@toyota.com). For general questions about the TFSB Team Member Banking program, contact Lara Aragon (469-486-5152 or lara_aragon@toyota.com).
 
By Dan Miller
 

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