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INTEGRA FIRST MAJOR LOCAL BANK TO LOWER INTEREST RATE ON MASTERCARD AND VISA

 INTEGRA FIRST MAJOR LOCAL BANK TO LOWER INTEREST RATE
 ON MASTERCARD AND VISA
 PITTSBURGH, Nov. 26 /PRNewswire/ -- Integra Financial Corporation (NASDAQ: ITGR) has become the first major western Pennsylvania bank to lower its interest rate on regular MasterCard and VISA accounts, it was announced today.
 The credit rate will drop from 18 percent APR to a rate of 14.9 percent APR.
 This announcement was made by Leonard M. Carroll, president and chief operating officer of Integra Financial Corporation. Carroll explained that this rate will be effective for customer purchases and cash advances. Additionally, the rate on any current outstanding balances will be reduced from 18.0 percent to 14.9 percent and the monthly minimum payment has been lowered from 3 percent to 2.5 percent of a customer's outstanding balance, or $10.00 whichever is higher.
 Carroll also announced that Integra will lower the Classic Choice MasterCard/VISA rate from 16.9 percent APR to a rate of 13.9 percent APR. Classic Choice is Integra's package of financial services offered to high deposit customers.
 These reductions are in effect for new customers Dec. 1, 1991, for all Integra branches in western Pennsylvania - Integra Bank/North, Integra Bank/Pittsburgh and Integra Bank/South. Existing customers will experience an automatic rate reduction that will be effective after their December statements.
 Carroll emphasized that these reductions are an everyday rate and not "temporary" or merely "teasers." "This move makes Integra a market leader and will attract new customers and new credit card business from existing Integra customers," he predicted.
 He explained that the kind of banking business Integra conducts enables the corporation to offer a lower rate to the customer. "In our banking portfolio, our focus is on relationships. We know our customers well and we can maintain a smaller loss ratio than other financial institutions. Because our losses are below the industry standards, we can pass the savings on to the consumer in the form of this everyday low rate."
 This program will be supported by a comprehensive advertising campaign of print ads and radio and television spots that will break on Thanksgiving, Nov. 28.
 /delval/
 -0- 11/26/91
 /CONTACT: William S. Eiler of Integra Financial Corporation, 412-644-8073, or home at 412-921-7620/
 (ITGR) CO: Integra Financial Corporation ST: Pennsylvania IN: FIN SU:


CD -- PG004 -- 7179 11/26/91 09:31 EST
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Publication:PR Newswire
Date:Nov 26, 1991
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