Multimedia Tutorial Services, a developer of educational products and sponsor of the Web site 1800Usamath.com, yesterday entered a co-marketing agreement with 1st Webbank Direct, the virtual banking subsidiary of Sovereign Bank.
Under the terms of the agreement, a link will be established between 1st Webbank Direct and Multimedia's Web sites, providing access for Multimedia's customers and prospects to a variety of banking services.
1st Web will pay Multimedia account acquisition and annual royalty fees for such transactions as opened accounts and money market deposits as well as for approved loans, credit lines and mortgages. 1st Web will also offer select prospective customers a premium option to receive a complete set of Math Made Easy or Reading Made Easy tutorials. Multimedia will receive a payment from 1st Web for each set of videos or CDs given to those 1st Web's customers who qualify for the premium.
“We are extremely pleased that 1st Webbank acknowledges the value of our tutorial programs as a component of their marketing efforts to provide real value and differentiate themselves in the marketplace,” Barry Reichman, president of Multimedia said in a statement.