Purdue Employees FCU Wins Business From MBNA

WEST LAFAYETTE, Ind. – The $449 million Purdue Employees FCU has managed to win business away from MBNA, now a division of Bank of America. The Purdue Alumni Association has announced that it will not renew its contract with MBNA to provide affinity cards to its members and instead will contact with the credit union to issue the cards. Affinity card programs are MBNA’s chief card specialty. Niki Reas, director of the alumni association’s external communications, said the association had chosen the CU because it was local, was already known to Purdue’s graduates since most open accounts with the CU as students and could provide the personalized service that a more “impersonal” company could not provide. Rich Cruz, president of the alumni association, said that PFCU will offer cardholders reward points that can essentially make their membership in the alumni association free. Cardholders will be eligible for the PEFCU cash-back rewards program, in which they will have the option to apply what they earn to their annual alumni association or Purdue Club dues. They also will be eligible for the merchandise/travel rewards program, which features few restrictions on airfare and officially licensed exclusive Purdue merchandise. “It was an offer that met our members’ needs and supports their club,” Cruz said. “We are very pleased to be able to do that while, at the same time, support our local credit union.” Bill Connors, president and CEO of PEFCU, said having a local affiliation will provide cardholders and the community with a number of benefits. “Cardholders will have the added convenience of being able to have their card issued and serviced locally by a financial institution they know,” he said. “They will be able to apply for a card, ask questions and receive a new card in a matter of minutes.” “We are excited to be partnering with the Purdue Alumni Association to offer its members a higher level of service.” Connors said that since the card program will be administered locally, PEFCU has already hired one employee for this purpose and will likely hire more as the program grows.