Onemain Financial is a household name in the financial services industry, providing loans and credit to millions of people across the United States. However, many people still do not know who the owner of the company is. It’s a question that has been asked time and time again, yet, surprisingly, it’s still shrouded in mystery. In this article, we are going to delve deep into the murky waters of Onemain Financial’s ownership to uncover who really owns this highly successful company.
To understand who the owner of Onemain Financial is, we have to look beyond the surface level. Sometimes, finding the correct answer means digging a little deeper to get to the truth. In the case of this financial giant, we need to take a closer look at the company’s history, its origin, and its shareholders. Only then can we uncover the identity of the one who holds the reins of the empire.
We understand that in today’s world, money is king, and it’s essential to know who controls the money. In that respect, Onemain Financial is no different. With its wide-ranging impact on the lives of millions of Americans, it’s crucial to know who is pulling the strings. However, because of the complexity of its ownership structure, arriving at a definitive answer is no easy feat. But we are not afraid to roll up our sleeves and get down to business to uncover the truth. The question still remains, who is the owner of Onemain Financial?
Onemain Financial Overview
Onemain Financial is an American lending company that provides personal loans to customers who need financial assistance. The company has been in business for over 100 years, with over 1,500 branches across the United States. They offer a variety of loan options, including secured and unsecured personal loans, as well as credit insurance and loan refinancing. Onemain Financial is committed to helping their customers achieve their financial goals, with a focus on personalized service and responsible lending practices.
Who is the owner of Onemain Financial?
- Onemain Financial was previously owned by Citigroup, one of the largest financial institutions in the world.
- In March 2015, Onemain Financial was sold to Springleaf Holdings, Inc. for $4.25 billion.
- Springleaf Holdings, Inc. changed their name to Onemain Holdings, Inc. following the acquisition.
- Onemain Holdings, Inc. is currently a publicly-traded company on the New York Stock Exchange (NYSE: OMF).
What are the values of Onemain Financial?
Onemain Financial is dedicated to providing their customers with responsible lending options that can help them achieve their financial goals. They are committed to the following core values:
- Integrity: Onemain Financial believes in treating their customers with honesty and transparency, and is dedicated to earning and maintaining their trust.
- Customer Focus: They prioritize their customer’s financial well-being, and strive to provide personalized service that meets their unique needs.
- Innovation: Onemain Financial is dedicated to leveraging technology to improve their lending processes, and to providing their customers with cutting-edge financial solutions.
- Teamwork: They believe that collaboration and communication are key to achieving their goals, and that a diverse team of employees with different viewpoints can lead to better outcomes.
Onemain Financial’s Financial Performance
In 2020, Onemain Financial reported net income of $323 million, with total assets of $19.9 billion. The company has experienced steady growth in recent years, with a focus on responsible lending and a commitment to providing personalized service to their customers.
| Year | Revenue | Net Income |
|---|---|---|
| 2020 | $2.9 billion | $323 million |
| 2019 | $2.7 billion | $327 million |
| 2018 | $2.5 billion | $431 million |
| 2017 | $2.1 billion | $351 million |
Overall, Onemain Financial has a strong financial track record, with a focus on responsible lending and a commitment to helping their customers meet their financial goals. As a publicly-traded company, they are dedicated to creating long-term value for both their customers and their shareholders.
History of Onemain Financial
Onemain Financial (formerly known as Springleaf Financial) has been around for almost a century, with roots that can be traced back to 1912. It all began with the establishment of Commercial Credit, a company that specialized in lending money to small businesses and consumers.
Over the years, Commercial Credit went through a series of mergers and acquisitions, with various entities taking ownership of the company. In 2000, American International Group (AIG) acquired Commercial Credit and renamed it AIG United Guaranty Mortgage Insurance Company.
After the financial crisis of 2008, AIG was bailed out by the U.S. government. As part of the bailout, AIG was required to divest some of its assets, and Springleaf Holdings (a consumer finance company) was able to acquire AIG’s United Guaranty Mortgage Insurance Company in 2010. Springleaf Holdings later changed its name to Onemain Financial in 2015.
Ownership of Onemain Financial
- Onemain Financial is a publicly traded company (NYSE: OMF) and therefore has many different owners.
- As of September 2021, the largest institutional shareholder of Onemain Financial is LSV Asset Management, which owns 9.2% of the company’s outstanding shares.
- The CEO of Onemain Financial is Douglas Shulman, who is also a member of the company’s board of directors.
Growth of Onemain Financial
Under the leadership of CEO Jay Levine, Springleaf Holdings (now Onemain Financial) underwent significant growth and expansion. When Levine took over as CEO in 2013, the company had around 500 branches and $3.5 billion in loans.
By 2015, when the company changed its name to Onemain Financial, it had doubled its branch count to more than 1,000 and had grown its loan portfolio to $5.3 billion.
Today, Onemain Financial has over 1,400 branches in 44 states and has provided loans to more than 10 million customers.
Financial Performance of Onemain Financial
Onemain Financial has been consistently profitable in recent years. In the second quarter of 2021, the company reported net income of $319 million, up from $117 million in the same quarter of the previous year.
| Year | Revenue | Net Income |
|---|---|---|
| 2018 | $3.91 billion | $569 million |
| 2019 | $4.27 billion | $580 million |
| 2020 | $4.43 billion | $355 million |
Despite the economic uncertainties brought about by the COVID-19 pandemic, Onemain Financial has remained resilient and continues to report strong financial results.
Onemain Financial Loans
Onemain Financial is a lending company that offers personal loans to those who need them. The company was founded in 1912 and has been providing loans to individuals for over a century. They aim to provide financial solutions to individuals who may not have access to traditional banking services. If you’re in need of a personal loan, Onemain Financial might be a good option for you.
- Types of Loans: Onemain Financial offers several types of personal loans, including debt consolidation loans, home improvement loans, and auto loans. They also offer loans to cover unexpected expenses, such as medical bills or car repairs.
- Loan Amounts: The amount of money you can borrow from Onemain Financial depends on a variety of factors, including your credit history, income, and the purpose of the loan. The minimum loan amount is $1,500, and the maximum loan amount is $20,000.
- Interest Rates: Interest rates for Onemain Financial loans vary depending on your credit history and other factors. However, they typically range from 18% to 35.99% APR.
Who is the Owner of Onemain Financial?
Onemain Financial is a subsidiary of Springleaf Holdings, Inc. Springleaf Holdings, Inc. is a financial services company that specializes in personal loans, insurance, and other financial products. The company was originally founded in 1920 and has since grown into one of the largest providers of personal loans in the United States.
Why Choose Onemain Financial?
Onemain Financial is a good option for anyone who needs a personal loan but may not have access to traditional banking services. They offer a variety of loan types and amounts, making it easy for you to find the right financial solution for your needs. Additionally, their application process is simple, and they provide quick access to funds, which can be helpful in times of financial need.
| Pros | Cons |
|---|---|
| Onemain Financial offers loans to individuals who may not have access to traditional banking services. | Interest rates for Onemain Financial loans can be higher than those of traditional loans. |
| Onemain Financial offers a variety of loan types and amounts, making it easy for you to find the right financial solution for your needs. | The maximum loan amount is $20,000, which may not be enough for some individuals who need larger amounts of money. |
| Their application process is simple, and they provide quick access to funds, which can be helpful in times of financial need. | If you don’t have a good credit history, you may not qualify for a loan from Onemain Financial. |
Overall, Onemain Financial is a good option for anyone who needs a personal loan and doesn’t have access to traditional banking services. However, it’s important to be aware of the interest rates and loan amounts offered by the company, as these factors can impact the overall cost of the loan.
Onemain Financial Services
Onemain Financial Services is a leading American financial services company that offers personal loans to consumers. The company has a huge following of loyal customers thanks to its quick and easy application process, excellent customer service, and competitive loan terms.
- History: Onemain Financial Services was formerly known as CitiFinancial and was a subsidiary of Citigroup. In 2011, the company was sold to Springleaf Holdings and was renamed Onemain Financial Services in 2015.
- Services: Onemain Financial Services provides personal loans ranging from $1,500 to $30,000, with terms ranging from 24 to 60 months. Customers can use the loan for a wide range of purposes, such as consolidating debt, paying for home improvements, and covering emergency expenses.
- Credit Score: Onemain Financial Services caters to customers with fair to good credit scores. However, the company does not require excellent credit scores to be approved for a loan, making it a great option for individuals who may have struggled to obtain financing elsewhere.
Who is the Owner of Onemain Financial?
Onemain Financial Services is currently owned by a publicly-traded company called Onemain Holdings, Inc. (NYSE: OMF). Onemain Holdings, Inc. is a leading provider of consumer finance and insurance services in the United States.
Onemain Holdings, Inc. was created in 2015 when Springleaf Holdings, Inc., the previous owner of Onemain Financial, acquired OneMain Financial Holdings, Inc. Since the merger, Onemain Holdings, Inc. has become a top player in the consumer finance industry, serving over 2.5 million customers across the country.
Onemain Financial’s Growth and Expansion
Since its establishment in 1912 as Commercial Credit, Onemain Financial Services has grown tremendously and expanded its reach over the years. The company has over 1,800 branches spread across 44 states, making it one of the largest personal loan providers in the United States.
In addition to its brick-and-mortar branches, Onemain Financial offers an online platform that allows customers to apply for a loan or manage their account from the comfort of their homes. This has made it easier for customers to access the company’s services, regardless of location or time.
Onemain Financial’s Awards and Recognitions
Onemain Financial Services has received numerous awards and recognitions over the years for its excellent customer service and commitment to providing quality financial services. Notably, the company has been recognized by J.D. Power for outstanding customer satisfaction in personal loans for six years in a row (2015-2020).
| Awarding Body | Award | Year |
|---|---|---|
| J.D. Power | Personal Loan Customer Satisfaction Award | 2015-2020 |
| Forbes | America’s Best-In-State Banks and Credit Unions | 2018, 2019 |
| Money | Best Personal Loans of 2021 | 2021 |
These awards and recognitions demonstrate Onemain Financial’s strong reputation in the financial industry and its continued commitment to providing exceptional services to its customers.
Onemain Financial Customer Care
Onemain Financial is a popular loan provider in the United States, serving over 2.4 million customers across the country. While customers can apply for loans online or visit one of their branch locations, Onemain Financial also offers reliable and efficient customer care services to assist customers with their questions or concerns. Here are five important things to know about Onemain Financial’s customer care services:
- Customer Service Hotline: Onemain Financial customers can contact the company’s customer service hotline at any time to speak with a representative who can assist with a wide range of issues, from general inquiries to payment assistance to loan servicing questions. The hotline is available Monday through Friday from 8am to 10pm EST and on Saturdays from 9am to 5pm EST.
- Email Support: Customers can also reach out to Onemain Financial via email for assistance. Email support is available 24/7, and customers can typically expect a response within one business day.
- Live Chat: Onemain Financial’s website also offers a live chat option for customers who prefer real-time, online support. The live chat service is available during regular business hours, Monday through Friday.
- Branch Locations: Onemain Financial has over 1,500 branch locations across the country. Customers who prefer in-person support can visit their nearest branch, where they can speak with a representative in person to get their questions answered or receive assistance with their account.
- Online Resources: In addition to these customer care services, Onemain Financial also offers a wide range of online resources for its customers. The company’s website includes a comprehensive FAQ section, loan calculators, and educational resources to help customers understand their loan options and manage their accounts effectively.
Conclusion
Whether you’re a new customer applying for a loan or a current customer managing your account, Onemain Financial’s customer care services can assist with any needs or concerns you may have. From phone support to in-person assistance at one of their branches, Onemain Financial makes it easy to get the help you need. Contacting Onemain Financial’s customer care team is simple and convenient, so you can feel confident knowing that you have the support you need to manage your loan and achieve your financial goals.
Onemain Financial Careers
Onemain Financial is a leading financial services company that provides personal and auto loans to customers across the United States. With over 1,500 branches and 10,000 team members, Onemain Financial is a great place to build a career. The company is committed to helping its employees grow professionally and personally, providing opportunities for career growth and development.
If you are interested in pursuing a career at Onemain Financial, there are a variety of positions available in different fields. Here are some of the jobs you can expect to see open at Onemain Financial:
- Branch Manager
- Loan Officer
- Customer Service Representative
- Marketing Coordinator
- Financial Analyst
- IT Specialist
Onemain Financial is an equal opportunity employer committed to diversity in the workplace. The company values the unique perspectives and backgrounds of its employees, and strives to create an inclusive environment where everyone can thrive.
To learn more about career opportunities at Onemain Financial, visit their career website and submit your application online.
| Position | Qualifications | Responsibilities |
|---|---|---|
| Branch Manager | Bachelor’s degree in business or related field, 3-5 years of experience in management | Manage branch operations, develop and lead a team, drive sales and revenue goals |
| Loan Officer | Bachelor’s degree in finance or related field, 1-2 years of experience in lending | Develop and maintain customer relationships, process loan applications, meet sales and revenue goals |
| Customer Service Representative | High school diploma or equivalent, experience in customer service | Assist customers with inquiries, process loan payments, maintain customer records |
| Marketing Coordinator | Bachelor’s degree in marketing or related field, 1-2 years of experience in marketing | Assist with planning and executing marketing campaigns, analyze campaign data, support sales and revenue goals |
| Financial Analyst | Bachelor’s degree in finance or related field, 3-5 years of experience in financial analysis | Analyze financial data, develop financial models and forecasts, provide insights to senior leadership |
| IT Specialist | Bachelor’s degree in computer science or related field, 1-2 years of experience in IT support | Provide technical support to end-users, maintain hardware and software systems, manage IT projects |
At Onemain Financial, your career growth is supported by a wide range of learning and development opportunities. The company offers formal training, mentorship programs, and leadership development programs to help employees reach their full potential. Onemain Financial is also committed to work-life balance, offering flexible work arrangements and generous vacation time.
Onemain Financial News
If you are looking to stay updated with the latest news about OneMain Financial, then you have come to the right place. OneMain Financial, formerly known as CitiFinancial, is a financial services company that provides personal loans to individuals. The company has been around since 1912 and has been helping people with their financial needs for over a century.
In recent times, there have been several developments in the world of OneMain Financial. Here are some of the latest news and updates that you need to know:
- OneMain Financial’s Q1 2021 Earnings Report: On April 29, 2021, OneMain Financial released its Q1 2021 earnings report. According to the report, the company’s net income for the quarter was $324 million, an increase of 55% compared to the same period last year. The company also reported a net interest margin of 15.7%, up from 15.4% in Q1 2020.
- OneMain Financial’s Acquisition of Enova International’s Subprime Lending Business: In March 2021, OneMain Financial announced its acquisition of Enova International’s subprime lending business, which includes NetCredit and Headway Capital. Enova will receive $175 million in cash, and the acquisition is expected to close in H2 2021.
- OneMain Financial’s Response to COVID-19: Like many other companies, OneMain Financial has been affected by the COVID-19 pandemic. The company has taken several measures to help its customers during these difficult times. These measures include deferred payments, payment extensions, and loan modifications.
Keeping up with the latest OneMain Financial news is important if you are a customer, investor, or just interested in the company. By staying informed, you can make better decisions about your personal finances and investments.
Below is a table summarizing OneMain Financial’s recent financial performance:
| Quarter | Net Income | Net Interest Margin |
|---|---|---|
| Q1 2021 | $324 million | 15.7% |
| Q1 2020 | $209 million | 15.4% |
Overall, OneMain Financial has been performing well in recent times and is poised for future growth and success.
FAQs about Who is the Owner of OneMain Financial
1. Who currently owns OneMain Financial?
OneMain Financial is a publicly-traded company, and its major shareholders include affiliates of Fortress Investment Group LLC, Blackstone Group International Ltd., and Fidelity National Financial, Inc.
2. Who founded OneMain Financial?
OneMain Financial was originally founded in 1912 as Commercial Credit Company, and it was acquired by Citigroup in 2000. In 2015, OneMain Financial was spun off as an independent company.
3. Has OneMain Financial been sold to another company lately?
OneMain Financial has not been sold to another company lately. However, the company did merge with Springleaf Financial in 2015, and it has been making strategic acquisitions in recent years to expand its customer base and geographic reach.
4. Is OneMain Financial a subsidiary of another company?
No, OneMain Financial is not a subsidiary of another company. It is an independent company that provides personal loans, insurance, and other financial products and services to its customers.
5. Who is the CEO of OneMain Financial?
Doug Shulman currently serves as the CEO of OneMain Financial. He joined the company in 2013, and he has over two decades of experience in business, government, and public service.
6. Where is OneMain Financial headquartered?
OneMain Financial is headquartered in Evansville, Indiana. The company has over 1,500 locations across the United States, and it employs over 10,000 people.
Closing Thoughts: Thanks for Reading!
We hope this article has provided you with valuable information on who owns OneMain Financial. As we’ve seen, the company has a long and storied history, and it has undergone many changes over the years. Today, it is a leading provider of personal loans and other financial products and services, with a strong commitment to customer service and innovation. Thanks for reading, and be sure to visit us again soon for more updates and insights!