Co-operative Roots (1977-1982)

In the late 1970's, the Canadian Co-operative Credit Society Limited (CCCS) - now known as Credit Union Central of Saskatchewan (CUCS) - and the Credit Union Federation of Alberta Limited (CUFA) - now known as Credit Union Central of Alberta (CUCA) - responded to a need within the Credit Union System in Canada to provide members with a card product. First, the brand was chosen: MasterCard^® was willing to allow a single organization to act as a principal member, while credit unions and caisses populaires could sign on as affiliate members. Second, the product was chosen: the product offered the convenience, flexibility and world-wide global acceptance of using a traditional MasterCard® credit card. Unlike the traditional MasterCard credit card, the funds associated with the product are automatically moved from a credit union account to pay-off the balance after the transaction is completed. CCCS and CUFA decided that the operations center (CUETS) would be located at CCCS, while the card production facility would be housed at CUFA.

The first Board of Directors appointed Edward Gebert as the first CEO on June 1, and other staff appointments followed. With a small complement of staff, work on the new card began in earnest. It was branded MasterCard^® II and Sherwood Credit Union in Regina issued the first card in October of 1982.

A National Presence (1983 - 1990)

Throughout the eighties, CUETS expanded its client base, beginning with a pilot and rollout in Saskatchewan and Alberta in 1983, and then to other provinces. By 1986, CUETS was issuing cards on behalf of credit unions and caisses populaires in most provinces from coast to coast. The card was well-accepted and by the late eighties, over 200,000 cards were in circulation. In 1987, CUETS began to move forward with a traditional credit card program, issuing the first cards in a pilot project with Capital City Savings in Edmonton. Two years later, CU Credit Inc. started business. CU Credit, a client of CUETS, took on the role of credit card portfolio manager on behalf of a number of credit unions and caisses populaires, first in Ontario, and later across much of Canada.

Also in 1989, CUETS began moving forward with a merchant program. Up until that time, merchant MasterCard^® business had been managed under a third party agreement with Canada Trust. Now CUETS was ready to start its own program, which would provide credit unions and caisses populaires the opportunity to sign their own merchants and manage the portfolios themselves.

Growth of Core Products and Services (1990 - 1994)

From 1990 to 1994, CUETS' merchant and card programs continued to grow. We launched a Gold MasterCard^® product in 1991, and in 1993, became a member of the CIRRUS international ATM network and Maestro^® international point of sale program. Card and merchant programs grew steadily, while internally, CUETS began establishing a greater diversity of service areas to meet the needs of our expanding client base. As we grew, we often ran out of space and we relocated offices twice during that time.

Expansion and Partnerships (1995 - 1999)

CUETS continued to extend its product and service lines, continually striving to provide its clients with competitive and innovative solutions. At the same time, we looked for ways to partner with other companies, both inside and outside the Credit Union System.

1995

• CU Credit Inc. operations moved to CUETS and, for the first time, CUETS had direct management of card portfolios. Once again, our services expanded and we opened a cardholder call center, available 24 hours a day, seven days a week. Renamed CU CREDIT, the division was purchased by Co-operative Trust, while continuing to be managed by CUETS.
• CUETS processed the first Maestro acquiring transaction in Canada.

1996

• As loyalty programs became more and more successful, we launched Choice Rewards, a points program with one of the most flexible travel components available.
• The Card Production facility moved from Calgary to Regina under the direct management of CUETS.

1997

• CUETS and SaskTel processed the first secure Internet transaction in Canada using SET protocol.

1998

• CUETS relaunched the MasterCard^® II product (by then, known as the Payment Card), as GLOBAL PAYMENT MasterCard^®.
• We continued to manage our Card Production services, but the actual plastic fulfillment and distribution moved to G&D Security Card Services. That way, our clients could benefit from volume pricing, while we provide the expertise and individual attention they had become accustomed to.
• CUETS was listed among the "Top 100 Companies" by Saskatchewan Business magazine.

1999

• Four new MasterCard^® products became available: Platinum Class, Student, Business and a No Fee card with Choice Rewards.
• CUETS received a Saskatchewan Training for Excellence Award for its Business Analyst Career Laddering program.
• CUETS was listed among the "Top 100 Companies" and "50 Fastest Growing" by Saskatchewan Business magazine.

2000

• We launched the Merchant Service Bureau, a program that allows our clients to sign up merchants to accept cards for payment of goods and services, while we manage the merchant portfolio on the client's behalf.
• Bilingual services were enhanced, with the hire of several bilingual staff at our Head Office in Regina.
• We launched a Low Fee Gold MasterCard^® card product.
• CUETS was listed among the "Top 100 Companies" and "Fastest Growing" by Saskatchewan Business Magazine

2001

• In response to our expanding business, we opened a MasterCard^® Service Centre in Winnipeg for the provision of bilingual cardholder services.
• CUETS was listed among the "Top 100 Companies" and "Fastest Growing" by Saskatchewan Business Magazine.
• CUETS earned a listing in the annual publication, "Top 100 Employers in Canada".
• We created and enhanced our web services, including improved security and dynamic menuing to provide online services that are more personal, flexible and secure than ever before.
• We extended our loyalty program, CHOICE REWARDS, to the Member Card debit card product. Cardholders with a MasterCard card and Member Card debit card from participating institutions can collect CHOICE REWARDS points with both cards.

2000 – 2006

With a strategic business plan built on the pillars of growth, innovation and partnerships, CUETS has continued its strong success and service record. Highlights and major accomplishments include:

• Creation of an award-winning MasterCard Service Centre in Winnipeg, to provide 7/24 bilingual service and support the needs of credit unions, cardholders and a significant new client, President's Choice Financial.
• Expansion of the Choice Rewards loyalty program to the popular MemberCard debit card product. Cardholders with a MasterCard card and Member Card debit card from participating institutions can collect Choice Rewards points with both cards.
• Launch of the Low Fee Gold MasterCard product.
• Steady expansion and progress in several departments to address continued growth and provide enhanced levels of customer service, as evidenced by the introduction of advanced call monitoring software and numerous other process improvements.
• Achieving the prestigious designation as one of the Top 100 Employers in Canada – for three years in a row.
• Steadily advancing on Saskatchewan 's list of Top 100 Companies (by revenue), with solid standing among the top 50 companies.
• Entering into extensive card issuing and merchant processing agreements with First Data Corporation and some of its subsidiaries: First Data Resources (FDR), First Data Merchant Services (FDMS) and First Data Acquisition Corporation (FDAC), resulting in the creation of Unified Network Payment Solutions (UNPS).
• Implementing the Choice Rewards Charitable Giving Option, providing Credit Union MasterCard cardholders with the option of donating their points directly to the Canadian Cancer Society, while receiving a corresponding charitable donation receipt. The program, the first of its kind in Canada , paves the way for increased support of national charities by providing a great new method for Canadians to donate to worthy causes.
• In October 2005, CUETS announced its intentions to implement and support chip technology for its complete line of card products. In June 2006, the Board of Directors gave formal approval to CUETS chip program, and in July, the organization announced its alliance with Everlink Payment Services Inc. – the provider of electronic transaction switching services for the national credit union system – to develop competitive chip card solutions for the Canadian credit union system. Chip card technology will revolutionize the payments industry by introducing a computer chip embedded right into the plastic of credit and debit cards. The new technology offers enhanced security for cardholders, and will eventually have the ability to provide a whole-wallet full of payment and loyalty options right on one card.

2007

• On October 1, 2007, CUETS Financial, a wholly owned subsidiary of MBNA Canada Bank ("CUETS Financial"), acquired certain assets and assumed certain liabilities related to the credit card issuing business of CU Electronic Transaction Services.

• The acquisition combined the country's leading provider of affinity credit card products with the largest distribution network and the dominant credit union MasterCard credit card issuer in Canada. The integration of the businesses created a strong company capable of delivering more economical services to more customers throughout Canada. It dramatically increased opportunity to deepen customer relationships with new and more robust products across the full breadth of the company, with access to new marketing channels and more opportunity for our geographically diverse associates.