EL SEGUNDO, Calif. – Xerox Federal Credit Union and MBNA America Bank have launched a new credit card program highlighting Xerox's sponsorship of the 2002 Olympic games. This past summer the $481 million credit union sold its $18 million retail credit card program consisting of more than 15,0000 accounts to credit card giant MBNA. "The agreement with MBNA enables us to enhance administrations, servicing, and product offerings for our members," said XFCU President/CEO Bill Cheney. "We will continue to offer our members XFCU branded cards and begin offering new products and services that include a platinum card." The current Olympic XFCU VISA card features the image of an Olympic Downhill Skier and the XFCU, VISA and Salt Lake City Olympics logo. A marketing rollout includes take-one brochures, tent cards and posters throughout the credit union's branches. MBNA has become the latest player in the credit card portfolio sales game and over the past year has increased its share of the credit union market.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.