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BBB Accredited Business since

AnchorBank

Additional Locations

Phone: (608) 252-6246 Fax: (608) 252-8842 View Additional Phone Numbers 25 W. Main St., Madison, WI 53703 http://www.anchorbank.com


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Description

This company offers banking services, including brokerage, personal and business banking, and loans.


BBB Accreditation

A BBB Accredited Business since

BBB has determined that AnchorBank meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.


Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for AnchorBank include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 4 complaint(s) filed against business
  • Resolution of complaint(s) filed against business


Customer Complaints Summary Read complaint details

4 complaints closed with BBB in last 3 years | 2 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 2
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 2
Total Closed Complaints 4

Customer Reviews Summary Read customer reviews

6 Customer Reviews on AnchorBank
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 1
Negative Experience 5
Total Customer Reviews 6

Additional Information

BBB file opened: April 03, 1997 Business started: 01/06/1919 in WI Business started locally: 01/06/1919 Business incorporated 10/04/2013 in DE
Licensing, Bonding or Registration

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Federal Deposit Insurance Corporation
550 17th St. NW, Washington DC 20429
www.fdic.gov
Phone Number: (877) 275-3342

Wisconsin Dept of Financial Institutions
345 W Washington Ave, Madison WI 53703
http://www.wdfi.org
Phone Number: (608) 261-9555
Fax Number: (608) 261-7200
askthesecretary@dfi.state.wi.us

Nationwide Mortgage Licensing System
Wisconsin Department of Financial Institutions, 345 W. Washington Avenue, 4th Floor, Madison WI 53703
http://www.nmlsconsumeraccess.org
Phone Number: 608-261-7578
DFIMortgageBanking@wisconsin.gov

Type of Entity

Corporation

Business Management
Ms. Emily Campbell, Vice President - Marketing & Communications Mr. Mark Timmerman, President/CEO Mr. Chris Bauer, CEO Mr. Scott Ciano, Senior Vice President Mr. David Omachinski, Board Chairman Ms. Jennifer Ranville, Public Relations
Contact Information
Principal: Ms. Emily Campbell, Vice President - Marketing & Communications
Principal: Mr. Mark Timmerman, President/CEO
Business Category

Banks Consumer Finance & Loan Companies Savings Institutions (NAICS: 522120)

Alternate Business Names
Anchor Bancorp Wisconsin, Inc. Anchor Bank Anchor Investment Services AnchorBank FSB Commodore Financial
Industry Tips
Banking Regulators

Customer Review Rating plus BBB Rating Summary

AnchorBank has received 0 out of 5 stars based on 0 Customer Reviews and a BBB Rating of A+.

BBB Customer Review Rating plus BBB Rating Overview

Additional Locations

  • 100 W Racine St

    Janesville, WI 53548 (608) 752-7886

  • 101 N Broadway St

    Stanley, WI 54768 (715) 644-5555

  • 1065 S Lake St

    Neenah, WI 54956 (920) 997-3906

  • 1092 W Fond Du Lac St

    Ripon, WI 54971 (920) 745-2500

  • 110 N Fox River Dr

    Appleton, WI 54913 (920) 997-3901

  • 1220 W Northland Ave

    Appleton, WI 54914 (920) 997-3909

  • 130 Main St Ste 101

    Menasha, WI 54952 (920) 997-3907

  • 150 N Ludington St

    Columbus, WI 53925 (920) 623-3140

  • 1516 W Main St

    Sun Prairie, WI 53590 (608) 837-5181

  • 15600 W Cleveland Ave

    New Berlin, WI 53151 (262) 317-7135

  • 16 Washington Ave

    Oshkosh, WI 54901 (920) 303-4901

  • 1712 12th St

    Monroe, WI 53566 (608) 325-7161

  • 1720 Us Highway 51

    Stoughton, WI 53589 (608) 877-4100

  • 18200 W Capitol Dr Ste 100

    Brookfield, WI 53045 (262) 252-2700

  • 1889 Bus 18-151 East

    Mount Horeb, WI 53572 (608) 437-3011

  • 202 W Oak St

    Boscobel, WI 53805 (608) 375-5062

  • 204 S Century Ave Ste A1

    Waunakee, WI 53597 (608) 849-5041

  • 216 Cottage Grove Rd

    Madison, WI 53716 (608) 221-6550

  • 2215 Holiday Dr

    Janesville, WI 53545 (608) 756-2600

  • 240 Broadway

    Berlin, WI 54923 (920) 361-4361

  • 25 W. Main St.

    Madison, WI 53703 (608) 252-6246 (608) 262-8827

  • 2558 Post Rd

    Plover, WI 54467 (715) 345-2370

  • 2929 N Sherman Ave

    Madison, WI 53704 (608) 246-3505

  • 301 Junction Rd

    Madison, WI 53717

  • 302 Bay St

    Chippewa Falls, WI 54729 (715) 723-4414

  • 302 N Midvale Blvd

    Madison, WI 53705 (608) 231-6552

  • 3052 Cahill Main

    Fitchburg, WI 53711 (608) 270-4080

  • 311 N Main St

    Viroqua, WI 54665 (608) 637-3142

  • 316 W Spring St

    Dodgeville, WI 53533 (608) 935-9356

  • 333 S Westfield Rd

    Madison, WI 53717 (608) 833-4900

  • 3406 Oakwood Hills Pkwy

    Eau Claire, WI 54701 (715) 834-1111

  • 420 S Koeller St

    Oshkosh, WI 54902 (920) 303-4900

  • 420 W Verona Ave

    Verona, WI 53593 (608) 845-6716

  • 4702 E Towne Blvd

    Madison, WI 53704 (608) 246-3500

  • 500 E Walworth Ave

    Delavan, WI 53115 (262) 728-3456

  • 5101 S 27th St

    Milwaukee, WI 53221 (414) 325-7312

  • 5520 N Port Washington Rd

    Glendale, WI 53217

  • 5750 Raymond Rd

    Madison, WI 53711 (608) 275-7979

  • 600 E Blackhawk Ave

    Prairie Du Chien, WI 53821 (608) 326-2444

  • 601 S Main St

    De Forest, WI 53532 (608) 846-4701

  • 618 State Hwy. 69

    New Glarus, WI 53574 (608) 527-5248

  • 6240 Century Ave

    Middleton, WI 53562

  • 640 Division St

    Stevens Point, WI 54481 (715) 344-8080

  • 6501 Monona Dr

    Monona, WI 53716 (608) 221-6555

  • 705 N Main St

    Oregon, WI 53575 (608) 835-5702

  • 708 N Madison St

    Lancaster, WI 53813 (608) 723-7601

  • 7401 W Greenfield Ave

    Milwaukee, WI 53214 (414) 290-7206

  • 7745 W Rawson Ave

    Franklin, WI 53132 (414) 525-0600

  • 80 S Court St

    Platteville, WI 53818 (608) 348-9556

  • 927 E Main St

    Winneconne, WI 54986 (920) 582-4345

  • N78W14651 Appleton Ave

    Menomonee Falls, WI 53051 (262) 532-2455

  • PO Box 7933

    Madison, WI 53707

  • W3160 County Road KK

    Appleton, WI 54915 (920) 997-3903

  • W7829 State Road 21 73

    Wautoma, WI 54982 (920) 787-1505

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BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

Complaint Detail(s)

5/18/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I'm a current bank customer and I deposited funds into my active checking account, it was a third party check drawn on my fiancé of 5years ***** *****, when deposited the teller explained there would be a 2day hold which I didn't understand cause a cashier check is certified funds and both of us have proper identification and the cashier check is drawn on an actual bank well we went a head and deposit the cashier check into my active checking account and waited the two business days well today may 17, 2016 I went to withdrawal the funds which state are available to be withdrawn but for some odd reason some lady of the bank placed an additional hold but the crazy thing is my whole account is frozen which it shouldn't be cause the check cleared and the funds state they are available from mobile banking and online banking so I'm not sure what's going on I called the 1800 number and the lady that put the hold said she put a hold cause she suspected fraud wait a min if a check clears you can't hold it by law and second wouldn't it have to go thru clearances it's just not one person choice that's against the law and if my funds are available for withdrawal its against the law to refuse to release them if it was not negative account on the account

Desired Settlement: I will like the hold to be removed from my account so I can withdrawal my funds immediately

Business Response:

We are aware of this customer and the issue they are having with the deposit, and we continue to work with them. However, our Corporate Security team determined that the deposit is questionable, so it is under review by the bank at this time. We plan to follow up with the customer when we have an answer.  

Consumer Response: [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 

Regards,

******* ******

11/23/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I really need to switch financial institutions. They treat their customers very poorly. I tried to order something online that was close to $500. The bank thought it was unusual activity, so they put a hold on my debit card, basically I couldn't use my card AT ALL. Of course I work nights, and these communists can't manage to have someone available to call and let me know that this is happening until 5pm the next night, and when they do call me, they DO NOT COMMUNICATE very well with their other departments. The lady that called me told me that she got the problem fixed and that my card worked again. It did for one transaction at a gas station. The next day I tried to use my card and it kept declining. Luckily, the phone reps were open so I asked them why my card with $600 some in my account was not working. The man said that they had a hold placed on my card. I told him that I talked to someone about the issue yesterday and that the department told me that my card worked fine. He said that there was nothing he could do, so I asked him if there was anyone that I could contact at that hour to resolve the situation because I have bills to pay that are not getting paid. I can't get cash from an ATM either. He said that he would ask his supervisor, came back and said he could not help me. I have been putting up with this for almost 2 days now. I have a hard earned $600 in my checking that I can't use because of these bastards. No body accepts checks anymore where I'm at.

Desired Settlement: Seriously! Do the job. If one department contacts me and fixes the issue, they should communicate that to the other departments.

Business Response: We are aware of the issues this customer had with her debit card, and we did work with her to get them resolved. However, because of her work schedule working nights, we did have some difficulties in reaching her during business hours. Here’s an overview of what happened: The customer had attempted to make an online purchase on November 4 at 2:32 a.m. on walmart.com. The purchase was approved to go through, but that site does rate high on our potential fraud score because of past fraud complaints other customers have had with the site. Unfortunately the purchase was not completed properly and appeared to time out, so the customer tried to complete the transaction again at 3:02 a.m, which led to us putting a hold on the transaction as potential fraud. We did leave a message for the customer that morning at 8:11 a.m. on her cell phone number on file asking her for confirmation of the purchase. When we didn’t hear from the customer by mid-morning, we also called and left her a message on her home number at 10:19 a.m. The customer then called our 800 number at 5:36 p.m., but they were not able to contact the fraud department to have the hold released. The customer then called the after-hours number we’d provided her on an earlier message and they were able to unlock the card for usage. This was all resolved over the course of the day. Ideally we would have liked to help her sooner, but we weren’t able to unlock her card until that evening because of the time delay in being able to speak directly with the customer.

4/1/2014 Billing/Collection Issues | Read Complaint Details
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Additional Notes

Complaint: Anchor Bank made a few errors with my loan contract and they refuse to fix it, and one wants to be responsible for the mistakes they made, I tried to contact Anchor Bank many times since 3 months ago but is always the same thing no one want to do something about this problem and every month my loan installment increase. I told Anchor Bank about these errors before I signed the contract and told me no to worry that they would fix the problem but they never did!

Business Response:

We have been working with the customer for the past few months to correct errors that were in the original loan documents that negatively impacted the borrower. In the loan approval we inadvertently miscalculated the remaining amortization, and an error was made in the initial escrow calculation. To help address the issues we involved another Spanish speaking AnchorBank employee to help with any communication barriers between the lender and customer, and we now have a new agreement for them that shows the corrected payment amount. In addition, any late fees imposed since December 2013 were waived, and we refunded the interest they were charged by the City of ******* as a penalty for late payment of the property taxes. We think we will now have a satisfactory resolution for everyone involved. 

8/16/2013 Billing/Collection Issues | Complaint Details Unavailable

Customer Review(s)

The customer review(s) below are un-filtered. These positive and negative reviews are not used in the calculation of the BBB Rating. If you wish to file a complaint and request a resolution to your issue please click here. This customer review section is not BBBs complaint resolution system. Customer Reviews are the subjective opinion of the individual who posted the review and not of Better Business Bureau. A customer review is not posted on a business if a BBB complaint on the same issue(s) is also filed. BBB cannot guarantee the accuracy of any customer review and is not responsible for the content of any customer review. Public comments are not customer reviews.

Customer Reviews Summary

6 Customer Reviews on AnchorBank
Positive Experience (0 reviews)
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