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Affinity Move at Harvard Unusual

Card deal with alumni association a relative rarity in way it was structured.

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The recent announcement that the Harvard Alumni Association had chosen the 31,000 member, $409 million Harvard University Employees Credit Union as its card issuing partner was unusual in several respects.

Not only did it represent an affinity card issuing relationship previously held by a bank, Barclays Bank, being captured by a credit union, still a relative rarity, but it also included the rare provision for the affinity partner, the alumni association, continuing to control the existing portfolio.

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