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BofA Named ‘Official Bank of NASCAR’

Under a five-year agreement, Bank of America will be NASCAR’s exclusive partner for banking and related financial services, and will have the rights in this category to use NASCAR marks in marketing and advertising promotions through 2011.

The services BofA will market under the deal include consumer checking and savings products; Visa-branded credit, debit and ATM card issuance, processing and servicing; consumer and commercial lending; merchant services; securities brokerage services; mutual fund distribution and management services; treasury and payroll services; and community development banking.

Bank of America will launch racing-themed mass-market promotions, at-track branding and hospitality, rewards programs for both customers and employees, and business-to-business and cross-promotional opportunities with NASCAR’s various sponsor partners.

Other elements of the agreement include onsite branding and hospitality opportunities during NASCAR’s jewel events, such as the NASCAR Nextel All-Star Challenge, Championship Event and Champions Week.

Financial terms of the sponsorship agreement were not disclosed.

“We have enjoyed remarkable business results from our track relationships and race entitlements,” said Ray Bednar, Global Sponsorship Marketing Executive, Bank of America. “By teaming up with NASCAR to expand our association with the sport, we can continue to benefit and build excitement for fans across the country, linking their need for competitive and innovative financial products and services with their passion for the thrills and excitement of racing.”