Initial Roll Out Includes Reward Credit Card Program for AICPA Members
NEW YORK, Feb. 23, 2011 /PRNewswire-USNewswire/ -- The American Institute of Certified Public Accountants and Bank of America today announced that they have teamed up to develop banking and credit services aligned with the needs of AICPA members. The program includes AICPA-branded personal and business Visa® credit cards with WorldPoints® rewards as well as checking and debit cards.
"This program will bring a full complement of products from one of the largest banks in the world, and positively impact our members' banking and credit needs in a significant way," said Paul Stahlin, chairman of the AICPA.
Through the credit card program, AICPA members can earn points redeemable for cash back, travel, merchandise or gift cards on every day purchases made with their AICPA Visa card. Members earn 1 point per dollar for the first $12,500 in purchases and 1.5 points for every dollar in purchases above $12,500 each calendar year. Points are transferable between the personal and business credit cards, which allow the cardholder to combine points earned for themselves, their employees and their business.
Additionally, cardholders have opportunities to earn bonus points, including the ability to earn up to a total of 5 points for every $1 made on purchases through the AICPA, including AICPA membership dues, subscriptions, and conferences.
"By aligning with the AICPA, we have a unique opportunity to develop a strategic relationship with a community of professionals," said Andres de Armas, senior vice president for affinity card products at Bank of America. "CPAs are an important customer base for us and play a critical role in helping us deliver greater value to our small business community."
"We're launching with a compelling credit card program, but over time expect to add other banking and credit products tailored to the needs of our members," Stahlin said. "Additional product lines that may be extended through the partnership include a business line of credit and small business banking products, among others."
For information on the terms and conditions of the card and the program, or to apply, AICPA members can visit http://www.cpa2biz.com/bankofamerica.
About Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with more than 5,800 retail banking offices and approximately 18,000 ATMs and award-winning online banking with 29 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
The American Institute of Certified Public Accountants (www.aicpa.org) is the world's largest association representing the accounting profession, with nearly 370,000 members in 128 countries. AICPA members represent many areas of practice, including business and industry, public practice, government, education, and consulting; membership is also available to accounting students and CPA candidates. The AICPA sets ethical standards for the profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination.
The AICPA maintains offices in New York, Washington, D.C., Durham, N.C., Ewing, N.J. and Lewisville, Texas.
Media representatives are invited to visit the AICPA Press Center at www.aicpa.org/press.
SOURCE American Institute of Certified Public Accountants