In December 2003, President George W. Bush told Americans the military had captured former Iraqi President Saddam Hussein.
During the final month of 2003, thousands of movie fans flocked to theaters to see “The Return of the King,” the final chapter of the “Lord of the Rings” movie trilogy. The movie would become just the second film in history to gross over $1 billion worldwide.
In the same month, a Utah-based FDIC-insured bank opened its doors, launching a two-decade legacy of specialty financing, including RV lending.
Medallion Bank has grown significantly over the past 20 years to become a bank with over $2 billion in assets. Recreation lending, including RV lending, is the bank’s largest loan portfolio segment.
John Haymond, Medallion Bank’s senior vice president of sales and marketing, said, “It is very satisfying to see Medallion Bank’s growth all the way from just an idea to where we are now. We are grateful for all the dealer relationships we have built over the last 20 years. We feel very much part of the RV industry.”
Medallion Bank has specialized in RV consumer financing options, including lending to credit-challenged consumers.
“Each year, Medallion Bank helps thousands of individuals and families buy the RVs, boats and other recreation products of their dreams,” Haymond said. “The bank has become the go-to lender for dealerships to easily manage the financing process with technology tools balanced with exceptional, personal service.”
Today, Medallion Bank works with over 3,100 RV dealers in the United States. Haymond cited the bank’s work with its dealer partners among the top achievements in the past 20 years.
“We are also proud of our consistent, steady growth over the years,” he said. “While there have been challenging market conditions, and we have adjusted our offerings from time to time, we have remained a steady and reliable player in the recreation lending business.”
Haymond said Medallion Bank’s goal has always been to play the long game.
“We think we’ve done that,” he said, “and we plan to continue to be a reliable source for increasing sales and funding for our dealership partners.”
In addition to RV and boat lending, Medallion Bank finances home-improvement projects and other consumer loans. The bank finances home improvements including roofing, siding, kitchen and bath remodels, windows and outdoor living spaces.
