Bank of America set to unveil new affinity banking programs

Bank of America is set to build on its successful stable of affinity credit cards associated with universities, charities and other organizations by offering deposit and home-equity products with similar connections to customer interests.

As Bank of America explained, transferring the passion that everyone has for a school, professional organization or a cause to a product that drives customer loyalty is the basis for affinity marketing.  The credit card issuer noted that it now has the opportunity to stimulate interest in fresh products.

The new programs, aimed at encouraging customers to do more business with Bank of America, will include checking and savings accounts, access to special rates on certificates of deposit, IRAs and money-market accounts and the display of the groups' name and logo on checks, check cards and bank statements.

Currently, 12 organizations, representing almost 10 million members, have inked deals with Bank of America, including the National Wildlife Federation, Habitat for Humanity International and the National Trust for Historic Preservation. 

Bank of America's decision to offer the new products comes 10 months after its purchase of MBNA, which established an affinity credit card model 25 years ago.

The bank will begin marketing the new deposit products starting Nov. 20, 2006, in select markets, such as New York City, Chicago and Dallas, with plans to expand the program into other markets in early 2007.

Join the discussion
We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.

The editorial content on is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company's business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.

Weekly newsletter
Get the latest news, advice, articles and tips delivered to your inbox. It's FREE.

Updated: 01-23-2019