Comerica Bank has evolved from its first day of business in 1849 to a multinational bank providing personal finance, small business services, corporate banking and wealth management.
On its first day of business in 1849, a new bank called the Detroit Savings Fund Institute took in $41 in deposits from six customers. Since then, the company has grown and evolved to become Comerica Bank, based in Dallas, Texas. Comerica Bank has its primary offices in Texas, Arizona, California, Florida and Michigan as well as other offices across the country and in Canada and Mexico. Deposits at Comerica Bank are FDIC-insured up to $250,000 per depositor.
Comerica Bank's personal finance services includes banking, lending, investments, and insurance (through Comerica Insurance Services). Banking services vary by state but typically include a variety of checking account, savings account, money market account, and CD options. A portable health savings account (HSA) called HealthReserve is offered in some states.
Comerica Bank offers its own credit card along with home mortgage loans, home equity lines of credit, personal loans, and student loans. Brokerage services, Individual Retirement Accounts (IRAs), and education savings accounts are available. Comerica Insurance Services is an insurance broker offering personal and property insurance through a variety of providers.
Comerica Bank offers a variety of services and resources for businesses, including checking, interest checking, and savings account options, as well as small business loans and lines of credit. The bank offers cash management and other business services such as payroll, direct deposit, retirement plans and business insurance.