Nation's Largest Mutual Bank Continues Credit Card Portfolio Growth with Elan Partnership

Eastern Bank’s success leads to partnership extension

MINNEAPOLIS & BOSTON--()--Eastern Bank, America’s oldest and largest mutual bank, and Elan Financial Services, a leading payment services provider, announced today they have extended their long-term partnership to provide Eastern Bank’s consumer and business customers with industry-leading credit card programs.

Since the partnership began in 2011, Eastern Bank has seen unprecedented growth in credit cards.

“Our partnership with Elan Financial Services allows us to provide a robust set of reward offerings along with outstanding service to both regular and business credit card customers,” said Eastern Bank’s Sujata Yadav, SVP, Consumer Lending Director, "Since working with Elan, we now serve four times as many customers as we did just a few years ago.”

The multi-year agreement allows Eastern Bank to offer Elan’s suite of marketing initiatives such as direct mail and other programs that help drive new account growth and engagement from credit customers. In addition to customer growth, Eastern also has seen its share of business cardholders rise to almost 2 times its peer group average.

“As an almost 200-year-old mutual bank, Eastern Bank’s commitment to its customers is crucial to its continued success as a customer-focused organization. Providing the right credit card offerings is as important to its leadership as providing the latest in bank technology for their customers,” said John Owens, senior vice president of Elan Financial Services. “We look forward to the continued growth of the Bank and our strong partnership.”

About Elan Financial Services
For almost 50 years, Elan has delivered exceptional card products, marketing and service to over 1,400 financial institutions. Elan's base of more than 2,000 employees remain dedicated to helping partners avoid industry risks and benefit from Elan’s economies of scale in managing credit card programs for cardmembers. For more information call 1-800-223-7009, or visit www.elanfinancialservices.com.

About Eastern Bank
Founded in 1818 and based in Boston, Eastern Bank is America’s oldest and largest mutual bank, with $10 billion in assets and over 120 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire and Rhode Island. Eastern provides exceptional access to fairly priced banking, investment and insurance products and services for consumers and businesses of all sizes. Eastern Bank, which includes Eastern Wealth Management and Eastern Insurance, is known for its outspoken advocacy and community support that has topped more than $100 million in charitable giving over the past 20 years. An inclusive company, Eastern employs 1,900 deeply committed professionals who value relationships with their customers, colleagues and communities. Join us for good at www.easternbank.com.

Contacts

Elan Financial Services
Dana Stone, 303-809-2199

Release Summary

Eastern Bank, the largest mutual bank in the U.S., renews its partnership with Elan to provide bank customers with credit card services

Contacts

Elan Financial Services
Dana Stone, 303-809-2199