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STANDARD FEDERAL BANK LOWERS THE INTEREST RATE AND ELIMINATES ANNUAL FEES ON VISA CLASSIC AND GOLD CREDIT CARDS

 STANDARD FEDERAL BANK LOWERS THE INTEREST RATE
 AND ELIMINATES ANNUAL FEES ON VISA CLASSIC AND GOLD CREDIT CARDS
 TROY, Mich., March 5 /PRNewswire/ -- Standard Federal Bank (NYSE: SFB) announced today that, effective March 9, 1992, it will lower the annual percentage rate charged on its VISA(R) Classic and Gold credit cards from 18 percent to 16.8 percent. The $18 annual fee for VISA Classic and the $35 annual fee for VISA Gold will also be eliminated at that time.
 "With the reduction in annual percentage rate and the elimination of all annual fees, the Standard Federal VISA Classic and VISA Gold cards provide an exceptional value to consumers," noted Thomas R. Ricketts, chairman and president of Standard Federal. "The interest rates and terms of these products are very competitive, and customers have the added benefit of banking with a community-oriented financial institution," Ricketts added.
 Standard Federal Bank, headquartered in Troy, is the Midwest's largest thrift and has assets of $9.5 billion. The bank operates 120 branch offices in Michigan, Indiana and Ohio.
 -0- 3/5/92
 /CONTACT: William R. Yaw Jr. of Standard Federal Bank, 313-643-9600, 800-482-3930 (in Michigan), or 800-874-3716 (in Indiana)/
 (SFB) CO: Standard Federal Bank ST: Michigan IN: FIN SU:


SB -- DE010 -- 5353 03/05/92 10:13 EST
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Publication:PR Newswire
Date:Mar 5, 1992
Words:215
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