CUETS and Pacific Coast Savings Sign Credit Union MasterCard Service Agreement

October 2, 2000 -- Paul Duncan, Chief Executive Officer of Pacific Coast Savings, and Stan Kuss, Chief Executive Officer of CUETS, today announced an agreement that will provide Credit Union MasterCard services to Pacific Coast Savings' 100,000 members.

Pacific Coast Savings is presently the fourth largest credit union in Canada, with twelve branches on Vancouver Island and assets of $1.3 billion. The arrangement will see Pacific Coast Savings' 16,500 current MasterCard Credit Card cardholders converted to CUETS' CU CREDIT MasterCard program in November.

"We are very excited to be able to offer our members an expanded product line, an unparalleled rewards program and improved service with our new Pacific Coast Savings MasterCard cards," says Joel Rosenberg, Vice President, Corporate Services. "With CUETS, we can build upon our important MasterCard link and look forward to having a stronger voice in the management of the portfolio, while working with our cooperative system partners."

Kuss looks forward to an excellent future with Pacific Coast Savings. "We're confident that we will continue the strong working relationship that has formed between the two organizations, to the benefit of the entire Pacific Coast membership and, ultimately, the credit union system."

The signing is the latest in a number of positive developments for Regina-based CUETS, the leading supplier of card products to Canadian credit unions. Among other accomplishments, CUETS recently welcomed the L'Alliance group of Ontario Caisses populaires to the CU CREDIT program and successfully introduced bilingual support for cardholders right across Canada.

As a principal member of MasterCard International, CUETS supports the MasterCard family of card brands (MasterCard, Cirrus® and Maestro®) for both card issuing and merchant acquiring services. CUETS currently has 735,000 cards in circulation through 600 MasterCard affiliates (credit unions, Caisses populaires and other organizations) across the country. CUETS also partners with Credit Union Central of Canada to provide Cirrus ATM access to more than 2.5 million MEMBER CARD Debit Card cardholders and Interac point-of-sale service to merchants.

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