REPLACING PHOTO UMB Financial Teams with CardPartner to Offer
Affinity Credit Card Programs to Underserved Groups
-- Proprietary Online Tools Put Affinity Credit Card Programs Within
Reach for Smaller Nonprofits & Member Groups --
-- Early Adopters Include Guide Dogs for the Blind, Pancreatic
Cancer Action Network, and Oregon-California Trails Association --
KANSAS CITY, Mo. & NEW YORK (Business Wire EON/PRWEB ) June 25, 2008 --
Please replace the photo with the accompanying high-resolution photo.
The release reads:
UMB FINANCIAL TEAMS WITH CARDPARTNER TO OFFER AFFINITY CREDIT CARD
PROGRAMS TO UNDERSERVED GROUPS
-- Proprietary Online Tools Put Affinity Credit Card Programs Within
Reach for Smaller Nonprofits & Member Groups --
-- Early Adopters Include Guide Dogs for the Blind, Pancreatic
Cancer Action Network, and Oregon-California Trails Association --
UMB Financial Corporation (NASDAQ:UMBF), a Kansas City-based multi-bank
holding company, and CardPartner, Inc., a New York-based company that
markets VISA™ credit cards, said today they
have joined forces to offer Visa Platinum affinity credit card
programs to thousands of small nonprofits and member-based groups
underserved by the large credit card banks.
“For years many large nonprofits and member
groups have earned incremental revenue from affinity credit card
programs, but most small nonprofits have been locked out of this
opportunity—until now,”
says Doug Davis, CardPartner’s Senior Director
of Sales and Marketing. “CardPartner and UMB
are changing the rules. We offer customized affinity credit card
programs specifically for smaller nonprofits and member groups. Even the
smallest group earns incremental revenue at rates comparable to large
groups.”
CardPartner (www.cardpartner.com)
offers proprietary online tools that nonprofits and member groups use to
design and offer their own Visa® Platinum
credit card. UMB makes the credit decisions, issues the card, and
manages account relationships.
An affinity credit card promotes a group’s
cause, allows supporters to express their affinity for that cause, and
pays the group a finder’s fee and a portion of
charge volume.
Program Features & Benefits
For groups
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Identity: Most large affinity card programs offer
supporters a single card design. The CardPartner/UMB program
allows groups to offer members and supporters up to five design
choices. Cards incorporate logos and images in designs that are
especially meaningful to supporters.
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Control: Groups never turn over their mailing lists.
All contact is between the group and its members or supporters.
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Simplicity: Groups get user-friendly, proprietary
online tools to design their own program. Plus, a customized micro
site and marketing toolkit to communicate the card program to
supporters/members
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Quick set-up: The card program can be up and running
in less than two weeks
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Rewards: $50 cash bonus for each card activation
(card used at least once within 90 days of issue), plus a
percentage of the monthly spend charged to each card paid to the
group monthly
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Revenue Calculator: An online tool that models how
much revenue a group might earn from its affinity card program
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No setup costs
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For cardholders
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No annual fee
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0% APR on purchases and balance transfers for the first six months
and a low, fixed rate after six months for all approved applicants
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(0% introductory APR on purchases and balance transfers for the
first six months.
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Thereafter, the APR will vary based upon the Prime Rate plus 5.90%.
As of June 1, 2008, the APR for both purchases and balance transfers
is 11.15%. Balance transfer offer limited to balance transfer
requests submitted with application, from an issuer other than UMB
Bank, n.a. or its affiliates.)
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Purchase protection
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Zero Liability protection for unauthorized purchases
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Emergency cash and card replacement
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Lost/stolen card reporting service
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24-hour roadside assistance
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Warranty manager service
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Lost luggage replacement
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Mark Levitt, former MBNA Bank executive and now CardPartner’s
Senior Director of Creative Services, says, “Most
small nonprofits and membership groups don’t
have the resources to support a traditional affinity card program. By
providing powerful online tools, the CardPartner/UMB program makes it
easy for groups to launch, market, and maintain their own programs. And
the more effectively a group markets the card to members and supporters,
the more valuable the program becomes.”
Nonprofits, Schools, Clubs, Teams
Among Eligible
Groups now eligible for a Visa Platinum credit card program include
local, regional and national professional and fraternal groups, social
clubs, local and regional charities, charitable foundations, fundraising
organizations, private and other schools, research organizations, health
and wellness groups, sports teams, social clubs, and more.
Early adopters of the UMB/CardPartner program include Guide Dogs for
the Blind, the Pancreatic Cancer Action Network, and the Oregon-California
Trails Association, each of whom works with CardPartner and UMB to
offer affinity credit cards to their thousands of members and supporters.
Commenting on the affinity credit card program her organization recently
launched with UMB and CardPartner, Nancy Gardner, president and CEO of
Guide Dogs for the Blind says, “We offer our
services free-of-charge to our students, including a Guide Dog, air
transportation, room and board, training, equipment, financial
assistance for veterinary care and alumni support services. We are
pleased the Guide Dogs for the Blind Platinum Visa®
credit card will support our mission and generate additional funds
for our organization.”
George Schmelzel, Senior Vice President of UMB Card Services, says, “This
specialized card program offered to smaller groups competes effectively
with similar programs offered by the major credit card issuers. This
unique arrangement creates a simple, safe and secure method for small
organizations to reap the benefits of an affinity credit card program
that larger organizations have capitalized on for years.”
About CardPartner
CardPartner, Inc.(www.cardpartner.com)
is an online company that specializes in helping smaller U.S.-based
membership organizations and charities create custom Visa credit card
programs. CardPartner is a unit of the privately held Serverside
Group, a technology provider to many of the world’s
leading banks. Visa credit cards offered through CardPartner are issued
by UMB Bank, n.a., headquartered in Kansas City, Mo. UMB Bank approves
credit decisions, grants credit, and manages the administration and
cardholder service for card programs offered by CardPartner.
About UMB
UMB Financial Corporation (NASDAQ:UMBF) is a multi-bank holding company
headquartered in Kansas City, Mo., offering complete banking, asset
management, health spending solutions and related financial services to
both individual and business customers nationwide. Its banking
subsidiaries own and operate 136 banking centers throughout Missouri,
Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. Subsidiaries
of the holding company and the lead bank, UMB Bank, n.a., include an
investment services group based in Milwaukee, Wis., single-purpose
companies that deal with brokerage services and insurance, and
registered investment advisors for proprietary mutual funds. More
information is available at www.umb.com.
MULTIMEDIA GALLERY http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5716103
See the original story at: http://eon.businesswire.com/releases/credit/affinity/prweb1051044.htm
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