Profinium, Inc.

A notice was mailed on 5/indicating a rate change to 8.25%. This notice was mailed prior to the customer making their final payment. The note was a variable rate note adjusting every years. The note also matured on 5/1. The borrowers came into the Mankato location on 5/
to make a payment. The coupon that they brought in states that they should contact the bank for the final payment since it isn’t going to be the same as their regular payment. They were informed that there was still a balance of $69.30. They became very upset. The (new) employee offered to have someone research the loan and give them a call back to let them know what the situation was.The officer on the loan was notified and she called and left a message for the borrower. When *** called back he informed her that he was going to call the Revdex.com but didn’t allow her to explain what happened. This happened on 5/3.Another phone call was made the same day and the employee was able to explain to *** that since payments were typically made a couple of days after their payment date that more of each payment went to interest and less to principal so there was a small balance left. This happened on 5/3.*** came in on 5/and made the final payment on the loan and apologized.Another employee followed up at a later date to ensure that they were satisfied with how the situation was resolved, that the loan was paid in full and that they received their lien card