Discover
Financial Services
Issuer of credit cards
and payment services.
Headquarters:
2500 Lake Cook Rd.
Riverwoods, IL 60015
Employees: 12,800
CEO: David Nelms
Stock Symbol: DFS
Website:
http://www.discoverfinancial.com
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Discover Financial Services is a leading
credit card issuer and electronic payment services company with
one of the most recognized brands in U.S. financial services.
The company operates the Discover Card,
the first credit card to offer cash awards and now with over
12 million users. Since its inception in 1986, the company has
become one of the largest card issuers in the United States.
Its payments businesses consist of the Discover Network, with
millions of merchant and cash access locations, and PULSE, one
of the nation's leading ATM/debit networks. PULSE serves more
than 4,400 banks, credit unions and savings institutions across
the country. The network links cardholders with nearly 260,000
ATMs, as well as POS terminals at retail locations nationwide.
As part of its U.S. card sector, DFS has
two banking affiliates in the United States: Discover Bank and
Bank of New Castle. The company issues U.S. Discover Cards through
Discover Bank, which is a Delaware corporation. Bank of New Castle
activities are primarily limited to credit card operations. Discover
Bank offers certificates of deposit, money market deposit accounts,
personal and student loans, and other consumer financial products
and services.
In 2007, Discover Financial reported revenues
of $5.0 billion and net income of $561.0 million. The Discover
Network processed over 1.4 billion transactions in 2007. The
PULSE network processed 2.2 billion transactions in 2007.
History
Discover Card was unveiled nationally during
the 1986 Super Bowl. Discover Card made it known that innovation
and change were coming to the credit card industry: Change that
focused on features and services that consumers wanted, but couldn't
find in other credit cards. At the time, annual fees were common
and cash rewards were unheard of. Discover Card set out to change
that as a pioneer in offering cash rewards and no annual fee.
In 1989, Discover signed up its one millionth
merchant - Vincente's Restaurant in Wilmington, DE.
Discover was part of the Dean Witter Co.
and went public as Dean Witter, Discover in 1993.
Dean Witter, Discover Co. was acquired
by Morgan Stanley in 1997.
In 1998, Discover introduces a platinum
card.
Discover acquires the PULSE payment network
in 2005.
Morgan Stanley decides to spinoff Discover
Financial Services in 2006. The new company goes public in 2007
as an independently traded firm.
Benefits
Personal Financial Benefits
Dependent Care Flexible Spending Account
Health Care Flexible Spending Account
Optional 401(k) savings plan with tax-deferred savings
Insurance Benefits
Basic Life Insurance
Business Travel Accident Insurance
Accidental Death and Dismemberment Insurance
Short Term Disability Insurance
Dependent Death Benefit
Optional Long Term Disability Insurance
Optional Supplemental Life Insurance
Optional Long-Term Care Insurance
Optional Voluntary Personal Accident Insurance
Health & Wellness Benefits
Optional Healthcare Plan
Optional Dental Plan
Optional Vision Plan
Health Services Center
Employee Assistance Program
Work Environment Benefits
Dynamic, supportive work environment
Performance-based incentive plans
Departmental performance contests/rewards
Various schedules available
Exceptional variety of career/growth opportunities
Beautiful, well-appointed facilities
Full-service cafeteria
State-of-the-art Fitness Center
1.6 Mile jogging/walking trail at headquarters
Life Enhancement Benefits
Dependent Care Resources
Health & Wellness Benefits
Workplace Flexibility
Paid Time Off
Employee Assistance Programs
LifeWorks Resource and Referral Program
Service Anniversary Awards
Personal Time Off (PTO)
This program provides employees with up to five weeks of paid
time off per year and the flexibility to use the time as
they see fit.
Rideshare Program
Regular, free shuttle service is available from our Riverwoods
facility headquarters to nearby Metra stations. Pace suburban
bus passengers also receive on-site bus service.
Nationwide Discounts
Employees are eligible to take advantage of a 10% tuition discount
offered by Children's World Learning Centers.
Updated June 2, 2008
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