Marshall & Ilsley (ticker: MI, exchange: New York Stock Exchange (.N))
News Release -
M&I Bank Achieves Seven Years of Consecutive Monthly Net Personal Checking Growth
MILWAUKEE, May 17, 2010 /PRNewswire via COMTEX/ --On March 31, 2010, M&I Bank (M&I) marked seven years of consecutive monthly net personal checking account growth. For 84 consecutive months, M&I Bank opened more personal checking accounts than it closed since 2003.
In addition, in late 2009, M&I Bank launched a new innovative checking product line-up, "Checking with Choices," tailored to meet customers' needs. The Checking with Choices product line offers five primary account types and makes it easier and simpler for customers to select the checking product that best meets their needs.
Checking with Choices offers one product targeting the upscale market, three products for the mass market, and one product for individuals with limited needs.
The three "mass market" products are designed to meet the needs of the majority of retail customers, whether they prefer cash bonuses, rewards points, or interest:
- M&I Cash Back Checking(SM) - customers earn a monthly cash bonus for select transactions, such as using their M&I Bank Check Card, paying bills online, making deposits, and getting their bank statement online.
- M&I Rewards Checking - customers earn rewards points by using their M&I Rewards(SM) Check Card. Rewards points are redeemable for both travel and gift card awards.
- M&I Interest Checking - customers earn a tiered rate of interest based on the balance in their account.
"Checking account growth continues to be essential to the growth of M&I," said Andy Will, senior vice president, director of deposits, M&I Bank. "We believe our employees' efforts, along with the excitement generated by M&I Bank's new checking line-up, will help ensure our continued success in growing deposits."
M&I Bank has also recently launched a new checking account line-up for business customers. The "Business Solutions" product offers checking accounts with cash back options and other incentives for M&I's business customers.
Marshall & Ilsley Corporation (NYSE: MI) is a diversified financial services corporation headquartered in Milwaukee, Wis., with $56.6 billion in assets. Founded in 1847, M&I Marshall & Ilsley Bank is the largest Wisconsin-based bank, with 192 offices throughout the state. In addition, M&I has 53 locations throughout Arizona; 33 offices in Indianapolis and nearby communities; 36 offices along Florida's west coast and in central Florida; 15 offices in Kansas City and nearby communities; 26 offices in metropolitan Minneapolis/St. Paul, and one in Duluth, Minn.; and one office in Las Vegas, Nev. M&I's Southwest Bank subsidiary has 17 offices in the greater St. Louis area. M&I also provides trust and investment management, equipment leasing, mortgage banking, asset-based lending, financial planning, investments, and insurance services from offices throughout the country and on the Internet (www.mibank.com or www.micorp.com). M&I's customer-based approach, internal growth, and strategic acquisitions have made M&I a nationally recognized leader in the financial services industry.
SOURCE Marshall & Ilsley Corporation