OTTAWA — MBNA Canada, a credit-card issuing unit of Bank of America, is buying CUETS, the largest MasterCard issuer for credit unions in Canada.
The price being paid for CUETS or CU Electronic Transaction Services, owned jointly by the Saskatchewan and Alberta credit union centrals, was not disclosed.
CUETS "will become a subsidiary of MBNA Canada Bank, leveraging superior capabilities of both companies to increase customer value and grow market share in Canada," according to a joint statement released May 30.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
