Xerox FCU, MBNA look to 2002 Olympic games

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.