Associates First Capital Corporation Thursday announced an agreement with Follett Higher Education Group that allows The Associates to offer credit card products and provide financial education resources through Follett’s bookstores and the efollett.com Web site. Terms of the agreement were not disclosed.
The agreement allows the entire Follett bookstore operation, with more than 600 campus bookstores in the United States and Canada, to have a consistent source of credit card and financial education information on site. Additionally, the agreement provides exclusivity for The Associates to provide credit card services through the efollett.com Web site, which serves more than four million students and contains online booklists for more than 1,000 college campuses. Through these “click and mortar” venues, students have instant access to financial education information and resources to begin building a credit history for themselves.
“As a leader in the financial services industry, it is important for The Associates to take advantage of new technology opportunities and creatively build products to reach specific market segments. We create educational and financial opportunities for young adults through our partnerships,” said Joseph N. Scarpinato, senior executive vice president, Credit Card Operations for The Associates.
“As we begin to add more value for students and campuses alike, we realize that access to financial resources and educational materials is a need for students. Partnering with a leader in the credit card market is the smart thing to do,” said Tim Dorgan, senior vice president, e-commerce for Follett Higher Education Group. “We are committed to being the leading provider of textbooks and campus merchandise, both on campus and online.”
Follett pioneered online textbook retailing in August 1995 when it developed its first Web site. In January of 1999, Follett created a central Web site — efollett.com — for the more than 600 bookstores it operates. Through its bookstore and online services, Follett serves more than four million students and 375,000 faculty members on more than 1,000 college campuses including Georgetown University, Rutgers University, University of California – Berkeley and Michigan State University.
It is company policy for The Associates to provide financial education pamphlets to each student requesting an application for a credit card. In early 1998, The Associates launched an award-winning Web site, ([http://www.studentcreditcard.com]), which provides young consumers with ongoing finance and credit education by offering real-life tips on how to maintain a good credit record, manage money responsibly and create a personal budget.
The Associates issues Visa credit cards, leading retail private label credit cards and is the largest issuer of private label oil cards in the nation.
Associates First Capital Corporation, established in 1918, is a leading diversified finance company providing consumer and commercial finance, leasing, insurance and related services worldwide. The Associates has operations in the United States and 13 international markets. Headquartered in Dallas, it is the nation’s largest publicly traded finance company, based on total market capitalization. For more information, visit The Associates Web site at [http://www.theassociates.com].