Langevin commends bank on investing in community

Kelcy Dolan
Posted 2/26/15

Representative James Langevin, considers Home Loan Investment Bank to be a “true Rhode Island success story,” and as such the congressman made a point to tour the facilities Monday …

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Langevin commends bank on investing in community

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Representative James Langevin, considers Home Loan Investment Bank to be a “true Rhode Island success story,” and as such the congressman made a point to tour the facilities Monday afternoon.

His tour guides were Brian Murphy, president and CEO of Home Loan, and his brother Daniel Murphy, vice president of Home Loan Investment Bank.

Home Loan Investment Bank, started in 1959 by John Murphy, Brian and Daniel’s father, offers various financial services including personal and business banking, home improvement lending and mortgage services among others.

The brothers attribute the bank’s success to hands-on leadership.

“I have had to wear many hats coming up through this company, but as a boss it’s good to know every outlet of this business. I can lead by example. When people see me coming in on Saturday or staying late, they see how motivated the administration is and feel compelled to work just as hard and be just as motivated,” Daniel said.

The company strives to help educate people on financial literacy in what Daniel calls, “demystifying banking.”

He said, “People grow up differently and have different experiences. They may not be used to banks or don’t trust them. We want them to know you just have to find a bank for you, one that is involved in the community and does things you can really rally behind. We are teaching the principles of banking.”

Langevin, a “big fan” of small community banks, commended the family business for five decades of “competitive loans and sound financial guidance” for their customers.

Langevin, who frequently visits local businesses, said that it is critical to speak one-on-one with business owners to support the most effective policies for small businesses and economic growth in Rhode Island, but also to help businesses find those resources best for them.

His trip to Home Loan, though, was just as much about helping other small businesses in Rhode Island.

He said, “Under the tremendous leadership of the Murphy family, they continue to grow and adapt to the needs of their personal and commercial customers.”

In doing such Home Loan Investment Bank is a top 100 Small Business Administration lender.

One of the concerns Langevin often encounters is the need of capital, and he notes that Home Loan offers services that could help businesses begin and or expand.

“I wanted to meet with the bank’s leadership team to discuss how the businesses I interact with can best access the services that are available, including SBA loans,” Langevin said.

For more information on Home Loan Investment Bank visit their website at www.homeloanbank.com.

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