Quontic is a Member FDIC bank, headquartered in New York City and located in a growing number of states. We're all about customer service. We're here to help the community. We strive to make banking easy and the home mortgage process hassle-free. We are authorized by the U.S. Department of Housing and Urban Development (HUD) to make Federal Housing Authority (FHA)-insured mortgage loans in all fifty states. Quontic Bank has earned a coveted 5-star rating from BauerFinancial, the nation’s premier independent bank rating firm, each quarter since Q3 2015. In 2016, Quontic Bank ranked No. 88 of the 6,199 federally insured banks in the U.S., according to DepositAccounts.com, a website that monitors and informs consumers of how well financial institutions perform.
Quontic Bank, a community development financial institution in New York, has made a name for itself as an innovator. It was the first U.S. bank to have a bitcoin rewards card; it pays 1.5% back in bitcoin rewards for every debit card transaction. The bank has other products in the works, including a ring that can make debit card purchases. The $1.4 billion-asset Quontic also has been expanding its mortgage business. It is using a new method of underwriting that allows people in good credit standing but with low incomes to afford a home; 70% of its home loans are made to such customers. In a recent interview, founder and CEO Steven Schnall gave an update on the bank's bitcoin-related activities, its process for turning new ideas into action and its progress in the mortgage business.
The price of a single Bitcoin may be around half of what it was just a few months ago, but that doesn't mean crypto has run its course. The reality is, cryptocurrency has always been volatile in general, and Bitcoin has still shown an upward trend since inception, albeit with plenty of bumps along the road. Over the last few years, an array of banks and financial institutions have created new ways for Bitcoin enthusiasts to get into the game via bank deposits and even credit card spending. One new choice in the debit space is Quontic Bank’s Bitcoin Rewards Checking, which offers 1.5% back in Bitcoin on eligible purchases.
Casey Christopher is a "CEO," but not the one you're familiar with. As "chief empowerment officer" at Manhattan-based Quontic Bank, she has a unique role in catalyzing innovation from the bottom up. As a community development financial institution, Quontic also has an express mission of reaching underserved market segments—for example, constructing credit products that work well for gig economy workers and immigrants whose finances may not fit standard underwriting models. This kind of financial empowerment translates into employee empowerment too—it calls on a whole team to feel ownership and empowered to introduce new ideas. That’s where Christopher comes in. Christopher leads empowerment through Quontic Bank’s core values: “say cheese” (smile and be positive); “try it on” (be adaptive and open to new ideas), “know the goal” and “progress, not perfection.”