(By Balaseshan) Huntington Bancshares Inc. (NASDAQ: HBAN) said it will add 250 new jobs in Ohio over the next four years in support of its new credit card program.
The new jobs are the result of a successful public-private partnership that helped level the playing field for Ohio financial institutions to compete against institutions in other states.
Huntington will offer its new credit cards through its partnership with MasterCard (NYSE: MA), and expects to roll out the business card in the first half of 2013, with the consumer card shortly thereafter.
Along with other recent enhancements -- Platinum MasterCard debit cards available for all its customers, 24-Hour Grace and Asterisk-Free Checking -- Huntington's new line of credit cards is yet another step the bank is taking to put its customers first.
Huntington believes strongly in the future of Ohio, and the Midwest overall, and has made several significant investments in the state during the past several years, including the opening of more than 70 new branches since 2011, and a $4 billion lending commitment for small businesses in early 2010, when it mattered most.
Developing its own, differentiated line of business and consumer cards is an important part of Huntington's overall strategy to offer more benefits and better convenience for its customers. Additionally, the cards will augment the bank's continued focus on offering a broad range of products and services providing additional payment solutions for its customers.
The cards will enable Huntington to provide a consistent high level of service and also will allow for additional cross sell opportunities to further deepen relationships with the bank's rapidly-growing customer base.
"Ohio and the Midwest are helping lead the U.S. economy out of recession. And public-private partnership like House Bill 322, supported by Governor Kasich and passed with bipartisan support in the legislature in May 2012, allows Huntington to build its credit card business, while creating 250 new jobs in our home state," said Huntington CEO Steve Steinour.
HBAN is trading up 0.24 percent at $6.36 on Wednesday. The stock has been trading between $4.66 and $7.25 over the past 52 weeks.