KeyBank Supports Clients' Financial Wellness with New KeyBank Secured Credit Card(SM), Active Saver Account

CLEVELAND, Oct. 10, 2018 /PRNewswire/ -- As part of its commitment to clients' financial wellness, KeyBank continuously creates products and services that help clients make progress toward their financial goals.

Most recently, the bank launched the Key Secured Credit Card, a no-annual fee credit card designed to help clients build or strengthen their credit history.

"We're committed to helping consumers make steady progress toward financial wellness, using a holistic approach to support clients' progress," said Mitchell L. Kime, head of KeyBank credit card. "Having access to a secured credit card means more than rebuilding or strengthening credit history. Using a secured card is one more way we can help clients understand and manage their money, so they can feel confident about their financial choices."

• Like most secured credit cards, clients' credit limits are established by the bank and secured by the amount of money deposited. KeyBank takes the secured card a few steps further:
• KeyBank built the Key Secured Credit Card without an annual fee to make it easier for clients to make progress toward financial wellness.
• The funds held on deposit for the Key Secured Credit Card are placed in a Key Active Saver account, where clients can earn a higher interest rate by enrolling in KeyBank's digital financial wellness tool and increasing their Financial Wellness score. (Financial Wellness scores are based on how clients' personal financial activity – emergency and retirement savings, credit card debt, etc. - compares with people of similar age and income.)
• The secured card also demonstrates KeyBank's commitment to lower to moderate income consumers by aligning with the goals of the $16.5 billion National Community Benefits Plan. The plan's activities are driven in part by community insight. That insight helps KeyBank to create banking products and services that address specific community needs; in this case, helping people to build and/or rebuild credit.

KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $137.8 billion at June 30, 2018. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

SOURCE KeyBank