Nordstrom Touts Banking Unit
Upscale fashion retailer Nordstrom Inc. will use direct mail and telemarketing to gain more business from current customers for its soon-to-debut Nordstrom Federal Savings Bank.The Seattle company received approval late last month from the federal Office of Thrift Supervision to convert its Scottsdale, AZ-based Nordstrom National Credit Bank into a federal savings bank. Spokesman Brooke White said the direct marketing campaign will launch in the second half of this year, handled by three Nordstrom agencies. The strategy and exact timing wasn't known at press time.
