Juniper Bank

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Juniper Bank
Industry Banking
Fate Acquired by Barclays
Founded January 2000; 18 years ago (January 2000)
Defunct May 25, 2006; 11 years ago (May 25, 2006)
Headquarters Wilmington, Delaware
Key people
Richard Vague, CEO
Jim Stewart, President
Products Direct bank
Credit cards
Website www.juniper.com

Juniper Bank was a direct bank based in Wilmington, Delaware. The bank focused on branded credit cards.

History[edit]

The bank was founded in January 2000. It received financing from Benchmark Capital.

In November 2000, the bank began offering insurance products.[1]

In September 2001, the Canadian Imperial Bank of Commerce acquired 51% of the company.[2]

In August 2002, the Canadian Imperial Bank of Commerce made an additional $50 million investment in the company, bringing its ownership stake to 89%. Benchmark Capital sued, claiming that the terms of the offering were not fair.[3]

In November 2002, the bank signed a deal with Airtran Airways to offer a branded credit card.[4]

In 2004, the bank was acquired by Barclays.[5][6]

In May 2005, the bank began offering a Harvard University branded credit card.[7]

In August 2005, the bank invested $455 million to market a US Airways branded credit card.[8]

On May 25, 2006, the bank was folded into Barclays credit card division and renamed.[9]

References[edit]