Pros
They believe in giving college graduates a shot in management. Depending on your Regional Director, and Supervisor there are advantages such as contests and quarterly bonuses. Some supervisors would broadcast a email and state "The next manager that moves delinquency within the next 2 hours wins $500.00!" There have been times I have won many contests and earned several bonuses. They always have awesome managers meetings and fun seminars. I also like that they are huge supporters of JDRF.
Cons
This company has an extremely high turn over rate. Although the managers' bonuses are based on delinquency, lending and daily operations and budget. Although this is the case for many companies; you cannot MAKE someone pay their bills. If the cashier's drawer does not balance; it comes out of the MANAGERS bonus. I do not like the inflated interest rates customers are charged. Some supervisors are bullies and there is no security with this company. Every 15th is the close out and if your delinquency is high; your job is at stake. If your lending does not increase by the 1st of the month; your job is at stake. They claim that they "help" their customers by "rewriting" their loans when they become delinquent. They will usually give the customer an additional $200.00 or some chump change but the customer ends up in twice as much debt as they were before the loan was rewritten. You are assigned "boxes" of accounts from good standing which these accounts they "solicit" all the way to accounts that are charged off to either harass them about borrowing more money; or harass them about paying money back. They will even stoop as low as to send managers and employees to "chase" accounts which means go to customer's jobs and homes to hand out letters about the past due status of their accounts and to even pick up payments. They are not above "demoting" you which is the next step to terminating you. When they demote you, they'll assign you to one of the worst offices in the company that is usually in the middle of nowhere. They don't give you adequate time to relocate either. Usually requiring you to be at the new location by the next business week. They do not provide good examples of how to be a great leader. They have a strict no moonlighting policy even though many of their positions for trainees and cashiers do not pay a decent salary. They will terminate you upon receiving knowledge that you are continuing your education or seeking part time employment just to get by. They are predatory lenders by financing through third party business like furniture stores Miskelly Furniture for an example. They will finance furniture and then send the new customer an "unsolicited" check called a "Loan at Home." These checks are authentic and are addressed to the customer. If the customer is tempted and cashes this check, they are automatically entered into Tower Loans database; then the phone calls begin. Tower loan employees then contact these new "victims" and verify their accounts by giving them their new account numbers, payment terms, then asking them to "convert" their loan at home account into a "secured loan" by doing this, Tower loan then has the client to come in and give them information about "collateral" that's worth 3x what the loan is worth. Customers do not understand that when they give Tower loan a list of collateral; this is what the employees take from the customers in the event that they cannot pay their loan in full. They are not considerate of employees with families, often requiring larger branches such as "super branches" to run later hours of operation and even being open on weekends. Their credit life and accidental death insurance on their loans have ridiculous premiums. They use arbitrary judgments against customers in which, their signed arbitrary agreement protects their interest and not their customer's. Their insurance benefits are expensive and not really helpful. They are equally disloyal and disrespectful to their customers and their employees. They believe in "Tower Loan First." They have even sued former employees for working at other finance companies and banks whether they resigned or were terminated they like to claim it was a breach of contract and states that it's a conflict of interest.