Thanks to a new partnership between Discover Card and a union-affiliated credit card issuer, Teamsters will soon enjoy access to an exclusive version of the Discover Card. The American Union Financial Services (AUFS) and Amalgamated Bank of Chicago (ABOC) Discover Card features fraud protection services and travel rewards, along with no annual fee and a low annual percentage rate.
The AUFS/ABOC Discover Card marks the first venture between Discover and Amalgamated Bank, a financial institution founded in Chicago by the Amalgamated Clothing Workers Union. Dating to the 1920s, Amalgamated Bank has helped generations of union workers gain access to affordable financial products, including savings accounts and credit cards. Partner organization AUFS was founded in 2003 to benefit members of a broader coalition of labor unions, including the Laborers' International Union, the United Transportation Union, and the United Food and Commercial Workers' Union.
Discover spokesperson Kevin O'Donnell told reporters that the partnership afforded the credit card brand an opportunity to build loyalty and to increase transaction volume for merchant partners. "The agreement with ABOC allows us to continue to bring choice and value to both issuers and consumers, and helps us deliver on our focus of providing customized solutions for specialized institutions," O'Donnell said.