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Created in 1998, State Farm Bank positions itself as a nontraditional financial institution without branch locations and with an online banking component. Financial products include savings accounts, CDs, retirement accounts, money market accounts, checking, lending, credit cards, and more via online banking. Customer service is available twenty-four hours a day, seven days a week and credit cards are equipped with special twenty-four hour Good Neighbor service. State Farm Bank conducts business and customer interactions mainly through State Farm agents, by telephone, mail, and internet.
Popularly known for their “Good Neighbor” campaign, State Farm Bank is the banking subsidiary of State Farm Insurance Company, which was founded in 1929 and is the largest auto insurer in the United States. It’s said that about one of every five cars on the road is insured with State Farm.