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Barclays to Launch New Banking Products with Exclusive offers for AARP Members

1. Barclays launches banking products for AARP members starting in 2025. 2. High-yield savings accounts and CDs will be offered exclusively to AARP members. 3. Personal loans with competitive interest rates will be introduced in 2026. 4. Barclays aims to enhance financial security for older Americans through tailored products. 5. This initiative builds on Barclays' existing relationship with AARP credit card members.

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FAQ

Why Bullish?

Expanding product offerings can increase customer base and revenue potential for Barclays.

How important is it?

New banking products with exclusive offers could significantly enhance Barclays' market position.

Why Long Term?

Success of new products will build over time as AARP members engage with the offers.

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AARPBCS
WILMINGTON, Del.--(BUSINESS WIRE)--Barclays US Consumer Bank announced today that it will launch a new suite of banking products with exclusive offers for AARP members across the United States. Starting in spring 2025, Barclays will introduce high-yield savings accounts and CDs, and in 2026, personal loan products that will feature competitive interest rates exclusively for AARP members. Through Barclays’ banking program, AARP members will have an easy way to open an online savings account, deposit funds remotely, view account balances, and link to other financial institutions. Barclays personal loans will offer AARP members a fast and convenient way to finance some of life’s larger purchases with a fixed low interest rate for the life of the loan. “Over the past four years, Barclays has offered credit card products tailored to deliver benefits exclusively for AARP members,” said James Capolongo, Head of Banking, Barclays US Consumer Bank. “Through Barclays’ innovative savings and personal loan programs, we will provide AARP members unparalleled value, convenience and security to help them take charge of their financial futures.” Since 2021, the bank has been the exclusive issuer of AARP Credit Cards from Barclays. The AARP® Essential Rewards Mastercard® from Barclays and the AARP® Travel Rewards Mastercard® from Barclays have made it easy for cardmembers to earn cash back and travel rewards for everyday spend in categories that are important to AARP members related to health and wellness, as well as travel, medical expenses, drug store purchases, gas, restaurants, hotel, airfare, and more. AARP members will be provided with more details about these savings and loan programs in the coming months. More information about savings products currently provided by Barclays can be found at Banking.Barclays.com, Member FDIC. About Barclays Barclays US Consumer Bank is a leading co-branded credit card issuer and financial services partner in the United States that creates highly customized programs to drive customer loyalty and engagement for some of the country's most successful travel, entertainment, retail, and affinity institutions. The bank offers co-branded, small business and private label credit cards, installment loans, online savings accounts, and CDs. Member FDIC. For more information, please visit www.BarclaysUS.com. About AARP Services Inc. AARP Services Inc., founded in 1999, is a wholly owned taxable subsidiary of AARP. AARP Services manages the provider relationships for and performs quality control oversight of the wide range of products and services that carry the AARP name and are made available by independent providers as benefits to AARP's millions of members. The providers’ offers currently span health products, financial products, travel and leisure products, and life event services. Specific products include Medicare supplemental insurance; credit cards; auto, home, mobile home and motorcycle insurance; life insurance and annuities; member discounts on rental cars, cruises, vacation packages and lodging; special offers on technology and gifts; and pharmacy services. AARP Services also engages in new product development activities for AARP and provides certain consulting services to outside companies. About AARP AARP is the nation's largest nonprofit, nonpartisan organization dedicated to empowering Americans 50 and older to choose how they live as they age. With a nationwide presence, AARP strengthens communities and advocates for what matters most to the more than 100 million Americans 50-plus and their families: health security, financial stability and personal fulfillment. AARP also works for individuals in the marketplace by sparking new solutions and allowing carefully chosen, high-quality products and services to carry the AARP name. As a trusted source for news and information, AARP produces the nation's largest circulation publications, AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org/about-aarp/, www.aarp.org/español or follow @AARP, @AARPenEspañol and @AARPadvocates on social media.

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