THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Thursday, January 5, 1995 TAG: 9501050395
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
SOURCE: BY TOM SHEAN, STAFF WRITER
LENGTH: Short : 43 lines
Citing the continued growth of its credit-card portfolio, NationsBank Corp. said Wednesday that it will add 300 jobs at its card-processing facility in Norfolk this year.
NationsBank, which is based in Charlotte, employs 1,600 at its processing operation in the former Royster office building in downtown Norfolk.
The new jobs will involve handling customer inquiries, collecting delinquent accounts and dealing with card-related fraud, said Phil G. Davis II, a senior vice president of NationsBank Card Services. All of those tasks are already handled at the Norfolk processing center.
Davis estimated that half of the 300 jobs to be added during 1995 would be part-time positions.
The growth in NationsBank's credit-card activity ``has been across the board, including our VISA, MasterCard and gold-card products, as well as USAir,'' Davis said. NationsBank issues a card bearing USAir's name and logo, and rewards card customers with mileage on the airline.
The volume of outstanding borrowing on NationsBank credit cards increased 20 percent last year to $5.87 billion, Davis said. At year's end, the company had 5.4 million card accounts.
Expansion of the card-processing work force was based partly on NationsBank's expectation of continued growth in its card activity during 1995, Davis said.
The giant bank holding company, which was formed in late 1991 from the merger of C&S/Sovran Corp. into Charlotte-based NCNB Corp., consolidated the card processing of its two predecessors in Norfolk in 1992. At the time of their merger, C&S/Sovran processed its credit cards in Norfolk, while NCNB processed its cards in Greensboro. ILLUSTRATION: HOW MANY: 300 jobs, about 150 full-time
WHERE: The firm's card-processing facility
by CNB