MBNA’s legacy remembered

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Morning all,

A Techncal.ly Delaware story made a brief reference to credit card giant MBNA in a piece earlier this week on the reduced presence of its successor Bank of America in downtown Wilmington.

B of A has steadily downsized its operations over the years and plans to move some jobs to the hilly Little Falls area west of Wilmington.

The story touched on the unique culture of MBNA, which poured millions into nonprofits in Delaware, but did not make as big an impact on downtown as one might have thought.

After all, its massive complex was self-contained, with parking spots, lunches for employees. Also included is carry-out fare when they left, often after a long workday.

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The aside led to a letter to the editor  that took note of the company’s many contributions to the community and a corporate culture that the writer praised.

Technical.ly was correct about MBNA having a unique, generous and sometimes thorny culture championed by co-founder Charles Cawley and a close-knit management team.

One quick story.

I remember being upbraided by one of its advertising people who thought our account executive was being  overly aggressive.  We ended up with an advertisement or two in the decade and a half history of the Delaware Business Ledger.

On the other hand, I saw many examples of the company stepping up to deal with unmet needs in the community. The Ministry of Caring comes to mind.

As the writer noted, one legacy of MBNA was its talented workforce. Many of its alumni have thrived at financial service companies, nonprofits and other entities here and elsewhere. 

Sallie Mae and spin-off Navient came to  Delaware, in large part because former MBNA executives were brought on board.

Others MBNAers started their own businesses in fintech and other areas.

I could write a lot more about MBNA. But it’s time to get some sun before this vacation comes to an end.

Enjoy your day. The newsletter will return to colder climes on Monday. – Doug Rainey, publisher

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