NEW YORK, March 30, 2021 /PRNewswire/ -- Laurel Road,
a brand of KeyBank, unveiled today Laurel Road for Doctors, a
digital bank tailored to physicians and dentists with products and
services designed to provide the financial help and peace of mind
they need through each career stage. The goal of the new digital
bank is to help ease the burden for doctors of paying down student
debt, finding more balance between work and life, and planning for
the future—many of whom have worked tirelessly through the COVID-19
pandemic.
With Laurel Road for Doctors, Laurel
Road and KeyBank expand on its existing suite of tailored
digital banking and lending products and extensive experience
working directly with doctors to create a platform that meets the
distinct challenges of this community. The online experience, from
originations to servicing tools, will include new offerings such
as:
- Student Loan Cashback℠ Credit Card: The only
credit card that offers 2% cashback to pay down student loans with
most loan servicers.
- Student Loan Refi &
Linked Savings℠: Link a new savings account when
refinancing student loans to build savings while obtaining an even
lower interest rate.
- High Yield Savings℠ Account: Qualified borrowers
can open an account and earn 10x the national average Annual
Percentage Yield (APY), with $0 to
open, no minimum balance, and no monthly maintenance fees to
fast-track savings goals.
- Financial Insights: Personalized data and guidance that
allows doctors to compare against those in similar specialties on
salary, debt and more, utilize educational content to build
financial literacy, and access custom insights for budgeting.
- Laurel Road Perks!: Exclusive offers, discounts
and benefits through a newly established and growing partner
network of premium brand partners such as P.volve, Sakara, Rent the
Runway, Brooklinen, KidPass, Talkspace and The White Coat
Investor.
- Premium Care Team: Financial healthcare support
specialists to provide personalized care seven days a week.
"We believe in providing our customers with the choice to
digitally fulfill their financial needs, especially when it makes
their lives easier to do so," said Chris
Gorman, Chairman and CEO of KeyCorp. "We acquired Laurel
Road in 2019 with the intention of scaling this digital born
business. Through this new digital bank offering we are able to
provide a secure online experience and customized banking solutions
to meet the special needs of physicians and dentists."
Laurel Road for Doctors is launching at the right time for many,
as two-thirds (66%) of doctors plan to be more financially focused
in 2021 to benefit their career and personal financial security
compared to 2020, according to a new survey of 750 US physicians
and dentists conducted by Laurel Road and The White Coat Investor,
an online community for doctors.
"From our long-standing work with doctors, we know that many
face financial management challenges while navigating high debt and
high-stress careers dedicated to caring for others, leaving them
little time to balance personal and financial pursuits," said
Alyssa Schaefer, Chief Experience
Officer at Laurel Road. "With thoughtful tools and resources
dedicated to supporting the financial health and life goals of
physicians and dentists, we aspire for Laurel Road for Doctors to
be a destination for all of their financial needs."
To further their commitments to healthcare professionals, and
honor doctors' dedication to fighting COVID-19 on the front lines,
Laurel Road and KeyBank are bringing back the 7pm cheer on National Doctors' Day – Tuesday, March 30 – to create the largest
applause yet. The campaign hopes to inspire the nation to join with
them in sharing their thanks using #ThankYouHealthcare and tagging
Laurel Road across social media. For each thank you shared, Laurel
Road will donate $7, up to
$50,000, to Direct Relief to support
life-saving medical equipment.
Laurel Road has had an important strategic focus on the
healthcare professional sector since the business began originating
loans in 2013, offering this group customized services such a
Laurel Road's Physician Mortgage, personal loan options for any
career stage, and low student loan refinancing rates.
While accelerating its focus on physicians and dentists, Laurel
Road will continue to provide its simplified student loan
refinancing platform that benefits all professionals and expand its
offering to other healthcare professionals over time.
Physicians and dentists can find Laurel Road for Doctors
available at www.laurelroad.com/doctors. To get involved in the
#ThankYouHealthcare campaign and share your thanks, visit
@laurel_road on Instagram.
About Laurel Road
Laurel Road began originating
student loans in 2013 and has since helped thousands of
professionals with undergraduate and postgraduate degrees
consolidate and refinance more than $7
billion in federal and private school loans. Laurel Road
also offers a suite of online graduate school loan products,
mortgages and personal loans that helps simplify lending through
customized technology and personalized service. Additionally,
Laurel Road's physician and dentist customers have access to Laurel
Road for Doctors, a tailored digital experience and specialized
service launched in March 2021. In
April 2019, Laurel Road was acquired
by KeyBank, one of the nation's largest bank-based financial
services companies. For more information, visit www.laurelroad.com.
Laurel Road is a brand of KeyBank National Association offering
online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. The mortgage product is not
offered in Puerto Rico. KeyBank is
a Member FDIC. Equal Housing Lender. NMLS ID # 399797.
About KeyCorp
KeyCorp's (NYSE: KEY) roots trace
back 190 years to Albany, New
York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest
bank-based financial services companies, with assets of
approximately $170.3 billion at December 31, 2020.
Key provides deposit, lending, cash management, and investment
services to individuals and businesses in 15 states under the name
KeyBank National Association through a network of more than 1,000
branches and approximately 1,400 ATMs. Key also provides a broad
range of sophisticated corporate and investment banking products,
such as merger and acquisition advice, public and private debt and
equity, syndications and derivatives to middle market companies in
selected industries throughout the United States under
the KeyBanc Capital Markets trade name. For more information,
visit https://www.key.com/.
Media Contact:
KWT Global for Laurel Road
646-989-8147
laurelroad@kwtglobal.com
Kimberly Kowalski
KeyBank Corporate Communications
216-406-2076
kimberly_kowalski@key.com
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SOURCE Laurel Road