July 1, 2006
Local credit union to offer Purdue Alumni Association credit cards
WEST LAFAYETTE, Ind. — The Purdue Alumni Association will begin using a locally based credit union to provide credit cards to its members in an effort to provide more personalized service and increase benefits.
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Rich Cruz, president of the Purdue Alumni Association, said the switch to PEFCU will provide many more advantages to cardholders.
"PEFCU approached us with features that couldn't be matched by a large, national company," he said. "The biggest plus is that we will be partnering with a locally owned business and supporting the local economy."
Also, he said, PEFCU 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 John 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 chief executive officer 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.
To sign up for the new Visa card, contact PEFCU at (765) 497-3328 or (800) 627-3328 or stop by any of its branches. A card can be instantly issued from any location.
The card has no annual fee, free fraud protection and 24-hour online access. It will feature an introductory annual percentage rate of 3.9 percent on balance transfers and cash advances for the first six months. The fixed rate on purchases will be 11.5 percent.
Cardholders will get their choice of two Purdue-theme card designs — one featuring the Purdue Action "P" and the other featuring the Purdue Boilermaker Special.
Connors said the collaboration with the alumni association for the credit card program is the credit union's latest in a continuing partnership to support Purdue.
By the end of Purdue's capital fund-raising campaign in 2007, PEFCU will have given nearly $800,000 to the university.
In 2004 PEFCU gave $500,000 to Purdue Intercollegiate Athletics to support construction of the Tom Spurgeon Golf Training Center and the Dennis J. and Mary Lou Schwartz Tennis Center. PEFCU also has supported Purdue Convocations, Purdue Libraries, the John Purdue Club and WBAA and has funded two $20,000 endowed scholarships in undergraduate studies, among other contributions.
Purdue Employees Federal Credit Union, founded in 1969, supports the Greater Lafayette community and serves more than 56,000 members nationwide. Its assets exceed $400 million.
The Purdue Alumni Association was founded in 1878 and has more than 66,000 members worldwide.
Writer: Kim Medaris, (765) 494-6998, kmedaris@purdue.edu
Sources: Rich Cruz, (703) 779-8481, richard.cruz@alumni.purdue.edu
Stephanie Hainje, PEFCU card marketing specialist, (765) 497-7473, shainje@purdueefcu.com
Bill Connors, (765) 497-7400, bconnors@purdueefcu.com
Purdue News Service: (765) 494-2096; purduenews@purdue.edu
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