CIT Northbridge Credit
CIT Bank is the digital banking division of First Citizens Bank offering consumer savings accounts, CDs, eChecking, home loans, and self-directed investing services to individual customers across the United States through a branchless online and mobile platform, with deposits FDIC-insured under First Citizens Bank & Trust Company.
- Company typePrivate
- Founded2017
- Headquarters—
- Headcount1–10
- GTM typeB2C
- OfferingServices
CIT Northbridge Credit firmographics
Firmographics- Name
- CIT Northbridge Credit
- Legal name
- First-Citizens Bank & Trust Company
- Website
- https://cit.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- CIT Bank is the digital banking division of First Citizens Bank offering consumer savings accounts, CDs, eChecking, home loans, and self-directed investing services to individual customers across the United States through a branchless online and mobile platform, with deposits FDIC-insured under First Citizens Bank & Trust Company.
- Ownership category
- akta.pro rank
CIT Northbridge Credit business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Interest Income: Earns interest income from lending activities including home loans and credit products
- Deposit Taking: Attracts deposits through savings accounts, CDs, and checking accounts generating float and investment income
- Banking Fees: Various banking service fees including those outlined in the Fee Schedule document
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Savings Connect Account - Variable rate savings up to 3.65% APY |
| Subscription | Monthly | Platinum Savings - High-yield savings account |
| One time/ perpetual license | Pay-as-you-go | Term CDs - Fixed rate certificates with terms from 6 months to 18 months |
| Subscription | Monthly | Money Market Account |
| Subscription | Monthly | eChecking Account |
Distribution channels2 records
Marketing channels3 records
CIT Northbridge Credit product offering
Product offeringCore offering
CIT Northbridge Credit operates as a financial partner that supports middle-market companies. Operationally the brand runs as CIT Bank, the digital banking division of First Citizens Bank, offering FDIC-insured consumer deposit products (savings, money market, certificates of deposit, eChecking), home loan products, and self-directed investing and financial planning services distributed through an entirely online and mobile channel.
Product overview
CIT Bank is a digital banking platform offering a comprehensive suite of financial products and services. The core banking products include multiple savings options (Platinum Savings, Money Market, Savings Connect, and Savings Builder), a full range of Certificate of Deposit products (Term CDs, No-Penalty CDs, Jumbo CDs, and RampUp CDs), and eChecking accounts. The platform also extends into lending with Home Loans and investment services including Self-Directed Investing and Financial Planning. Additional value-added services include Online Banking, Mobile Banking, Zelle peer-to-peer payments, Digital Payments, money Transfer services, CD management tools, Debit Card Controls, financial Calculators, and AD&D Insurance. CIT Bank is a division of First Citizens Bank, offering FDIC-insured deposits backed by the full faith and credit of the U.S. Government.
Differentiator
Problem solved
Functional benefit
Products and services
- Platinum Savings
- Money Market Account
- Savings Connect
- Savings Builder
- eChecking
- Term CDs
- No-Penalty 11-Month CD
- Jumbo CDs
- RampUp CDs
- Home Loans
- Self-Directed Investing
- Financial Planning
- AD&D Insurance
Quantifiable outcome
- Up to 3.65% APY on Savings Connect account
- +2 more outcomes
Companies that use CIT Northbridge Credit
Customer profileSegments3 records
Ideal customer profiles3 records
CIT Northbridge Credit technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
CIT Northbridge Credit partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- First Citizens BankcoreCIT Bank is a division of First Citizens Bank. First Citizens Bank provides the institutional backing, regulatory framework, FDIC insurance coverage, and 125-year heritage that CIT Bank leverages as a digital banking brand. First Citizens Bank is the insured depository institution while CIT Bank operates as its online banking division.
Scale indicators1 record
Recent moves4 records
Expansion highlights4 records
CIT Northbridge Credit competitors and assessment
Company assessmentDirect peers
- Varagon Capital Partners: Middle-market direct lending platform providing senior-secured loans including asset-based facilities to U.S. companies. Directly comparable on borrower segment and underwriting style to CIT Northbridge Credit.
- Hilco Global: Provides asset-based lending, valuation, and monetization services to middle-market companies, often in restructuring or special-situations contexts. Closely comparable collateral-based lending model.
- Gordon Brothers: Global advisory and asset-based financing firm specializing in collateral-based lending, valuations, and special situations. Overlaps with CIT Northbridge Credit's asset-based lending orientation and middle-market client base.
- White Oak Global Advisors: Middle-market direct lender with significant asset-based lending capabilities alongside term loan products. Comparable to CIT Northbridge Credit in target borrower profile and senior-secured lending model.
- Antares Capital: One of the largest dedicated middle-market asset-based lenders in the U.S., providing revolving credit and term loans secured by receivables, inventory, and machinery — directly comparable to CIT Northbridge Credit's middle-market ABL focus.
- North Mill Capital: Independent asset-based lender focused on small and middle-market companies, providing revolving credit facilities secured by receivables and inventory — closely comparable in niche positioning.
Broad incumbents
- PNC Business Credit: Asset-based lending division of PNC Bank serving middle-market companies with revolving credit and term loan facilities. Comparable to CIT Northbridge Credit as a bank-sponsored ABL platform.
- Wells Fargo Capital Finance: Large bank-affiliated asset-based lending and senior-secured financing platform serving middle-market borrowers; competes with CIT Northbridge Credit but operates as part of a much broader commercial banking franchise.
- Citizens Asset Finance: Bank-affiliated ABL platform providing senior-secured revolving and term loans to middle-market borrowers. Directly comparable in product offering and target customer profile to CIT Northbridge Credit.
Emerging players
- Encina Capital Partners: Specialty finance firm providing asset-based loans to middle-market borrowers in the U.S. Comparable on deal size, collateral orientation, and middle-market target customer.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks4 records
Key highlights4 records
Customer concentration
CIT Northbridge Credit compliance and trust
Trust signalCompliance1 record
CIT Northbridge Credit financial estimates
Financial estimateRevenue estimate
Valuation estimate
CIT Northbridge Credit leadership team
Management profileNumber of profiles
Profiles2 records
CIT Northbridge Credit funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CIT Northbridge Credit M&A and investment
M&A and investmentM&A
Investments4 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CIT Northbridge Credit
What does CIT Northbridge Credit do?
CIT Northbridge Credit operates as a financial partner that supports middle-market companies. Operationally the brand runs as CIT Bank, the digital banking division of First Citizens Bank, offering FDIC-insured consumer deposit products (savings, money market, certificates of deposit, eChecking), home loan products, and self-directed investing and financial planning services distributed through an entirely online and mobile channel.
Is CIT Northbridge Credit a public or private company?
CIT Northbridge Credit is a private company. It is classified as corporate owned and is currently operating.
When was CIT Northbridge Credit founded?
CIT Northbridge Credit was founded in 2017. It employs 1 to 10 people.
How does CIT Northbridge Credit make money?
Three revenue lines are on record. Interest Income is the primary driver. The others are deposit Taking and banking Fees.
Who are CIT Northbridge Credit's main competitors?
Direct peers on record are Varagon Capital Partners, Hilco Global, Gordon Brothers, White Oak Global Advisors, Antares Capital and North Mill Capital. Broad incumbents are PNC Business Credit, Wells Fargo Capital Finance and Citizens Asset Finance. Encina Capital Partners is listed as an emerging player.
Does CIT Northbridge Credit have an API?
No public API is recorded for CIT Northbridge Credit.