CAPITAL Corporate News

New Service Company to Add 300 Jobs
August 14, 1999

SIOUX FALLS – A new credit card service company has been established in Sioux Falls and intends to add 300 new jobs over the next five years. CAPITAL Card Services, Inc. has acquired a commercial site directly across from Citibank in the north industrial park. Phase One of the 36,000 square foot renovation is scheduled for completion by September 1, 1999. CAPITAL will provide a wide range of “cafeteria-type” credit card services for banks that outsource everything from credit approval to complete account management.

According to Jeff Aegerter, the company’s President and CEO, “Sioux Falls has a national prominence in the credit card industry and we see a great opportunity for CAPITAL locating here. This area has the best trained work force in the country.”

Several South Dakota financial institutions have already made commitments to CAPITAL including First National Bank in Pierre and CorTrust Bank in Mitchell. Most recently, Security Bank decided to move their existing service contract from an East Coast based company to CAPITAL beginning later this year.

William Connor, Vice President of Security Bank in Sioux Falls, emphasized the importance of local service, “Doing business locally with CAPITAL is a win-win-win. We will improve our level of service to our customers, enhance our management capacities, and create new jobs, too. It’s a welcomed service to Security Bank and it’s a great business opportunity for South Dakota.”