AA Financial Services has teamed up with the Bank of Ireland UK to provide financial services to its consumers.

The new 10-year deal will see AA Financial Services launch, over coming months, a new range of credit cards, loans, savings and next year AA branded mortgages. Kathryn Thomas, managing director of AA Financial Services, said that the partnership will allow the AA, headquartered in Basingstoke, to introduce a competitive new range of AA-branded credit cards, loans and savings with a range of consumer benefits, particularly for AA members, over coming months.

“It also offers scope for the AA to expand into new financial services arenas such as mortgages,” said Ms Thomas.

“This is an exciting new venture that will help to develop the AA’s vigour as a growing force in UK financial services.

“It also builds on the AA’s status as Britain’s most trusted brand, enabling us to offer relevant and timely services that meet the expectations of AA roadside members as well as the wider public.

“What’s more, we’ll be adding the AA’s first mortgage next year, which fits well with the AA’s large and growing home services customer businesses.”

Ms Thomas points out that over recent years, AA’s range of financial services have been sourced from several different providers. “The new partnership creates a stable new platform within a diverse and fragmented market place that will allow the AA to compete with a long-term, strategic UK banking proposition.”

The first product will be a brand-new AA credit card, expected to become available by the end of July. This will be followed by loans, savings and a further credit card before the end of the year, and mortgages next year.