We Calculate Credit Card Interest From the Posting Date

Regina - March 14, 2002 - Stan Kuss, CEO of CU Electronic Transaction Services (CUETS) stated today that interest on credit union and caisse populaire credit card products issued via CUETS is calculated from the date the transaction was posted to the cardholder's account for those transaction amounts not paid by the payment due date.

Kuss said, "We want to reassure cardholders who use our credit union and caisses populaire MasterCard credit card products about the way we calculate interest. In situations where interest is applicable, we have always based our calculations from the date that transaction was posted to the cardholder's account."

CU Electronic Transaction Services (CUETS) provides credit card services to the majority of card-issuing credit unions in English-speaking Canada, as well as several caisses populaires.

For specific account information, contact our call centre at 1-800-561-7849.

Media Contacts:

Ellie Rock
Vice President, Credit Policy & Operations
CUETS
(306) 566-1443

Doug Scott
Vice President, Business Development
CUETS
(306) 566-7422