Webster Bank, N.A., First USA Renew Credit Card Agreement
WILMINGTON, Del. and WATERBURY, Conn.- Webster Bank, N.A., a wholly-owned subsidiary of Webster Financial Corporation [NYSE: WBS], and First USA today announced they have extended their existing agent bank agreement. The credit cards will be marketed under the Webster Bank brand name, and First USA will continue to service the loans and provide administrative support for the program.
Credit card partners since 1998, the renewed program will allow Webster Bank to fully leverage its well-known brand in the marketplace. “The continuation of our partnership ensures our customers receive industry-leading credit card products and pricing, but under the Webster Bank brand,” said John Weeks, vice president, Retail Bank. “The depth and breadth of our new agreement will allow Webster Bank to market a credit card program that competes with other large card issuers, as well as with other retail banks with national networks.”
“We’re excited Webster Bank chose to renew their agent banking agreement with us,” commented Kian Conley, senior vice president, agent banking, First USA. “Webster Bank is a premier financial institution committed to providing its customers with world-class products and services. The decision by Webster Bank to renew a card agreement with us helps to validate that our First USA agent bank business effectively protects and honors our partners’ brands while still providing a best-in-class credit card program.”
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