NEW YORK - GFN.com, the financial portal oriented toward gay people, has terminated its relationship with E-Trade Bank and is now offering banking services through G&L Internet Bank.
"We have been friendly with G&L Bank for a while, and the alliance has taken place over time," said Mark Valenta, managing director of strategic business development at GFN.com.
The site's 100,000 members, who were able to open a banking account through a special offer from E-Trade Bank, formerly Telebank, can now open a G&L Bank deposit account. Those who do will get a $50 credit from GFN.com and a 25-basis-point discount on loan products from G&L.
Members who already have an E-Trade account are to have the option of maintaining that relationship.
GFN.com has similar arrangements to offer brokerage products through DLJ Direct, annuities through Annuity.net, and mortgages through InstaMortgage, a subsidiary of Cendant. It plans to offer insurance, mutual funds, and credit cards through partnerships yet to be announced.