Business credit

Credit Union Coalition of Canada Forms Exclusive Partnership with Collabria Financial

With this five-year agreement, Collabria will continue to play a vital role in enabling NCCP credit unions to provide best-in-class credit card solutions to all of their members.

Central 1 and Collabria Financial today announced that the National Credit Card Program (NCCP), a coalition of more than 180 credit unions across Canada, has signed an exclusive five-year agreement with Collabria Financial, making Collabria their card provider choice credit. More than 99% of NCCP participants support the initiative to develop, grow and optimize credit card offerings to credit union members across Canada.

Credit unions participating in the agreement will benefit from a competitive and personalized portfolio of credit card options, including low-interest cards, travel cards, U.S. dollar cards and rewards offers premium. The new deal highlights increased revenue for credit unions, as well as significant digital and modernization upgrades.

“In an ever-changing marketplace, credit unions need to partner with companies that understand the unique needs of our ecosystem and offer reliable, cutting-edge solutions,” said Ken Shea, advisory program president. National NCCP. “With this five-year agreement, Collabria will continue to play a vital role in enabling NCCP credit unions to provide best-in-class credit card solutions to all of their members.”

“Throughout the planning and negotiation process, we saw a unified commitment from all parties to reach an agreement focused on cardholder benefits and an improved user experience for employees and credit union members” , said Dave Schurman, chair of the NCCP bargaining committee. “We appreciate the efforts that all parties have made to craft a successful agreement and are grateful to the many people who have been invested and involved in the process.”

Credit cards are the most common method of payment used by Canadians – and during the pandemic, where online transactions have dramatically increased, the need for modern and reliable digital payment solutions is imperative,” said Jean- Marc Handfield, CEO, Collabria Financial. “We listened to credit unions and put in place a program to deliver long-term value to their members and their communities.”

The new agreement takes effect on January 1, 2023 and includes a phased rollout of upgrades for cardholders, including high-quality cards, improved mobile and online experiences, and security and convenience improvements. friendliness.

About the National Credit Card Program (NCCP)

NCCP is a collaboration of 189 Canadian credit unions, established in 2018 to offer a suite of premium credit card and loyalty program products for individuals and businesses. The NCCP is governed by a National Advisory Committee made up of credit union leaders, with day-to-day administration of the program handled by Central 1.

About Collabria Financial

Collabria Financial offers a competitive and compelling credit card program on behalf of credit unions and mid-sized banks. By operating as a subsidiary of Desjardins Group, Collabria benefits from the strength and experience of one of the oldest financial institutions in Canada, driven by its cooperative values ​​for more than 120 years. Collabria combines the flexibility for financial institutions with the scale and expertise to deliver an increasingly complex product in a highly competitive marketplace.

About Central 1

Central 1 cooperatively empowers credit unions and other financial institutions that provide banking choice to Canadians. With assets of $13.4 billion as of December 31, 2021, Central 1 provides essential services at scale to enable a thriving credit union system. Central 1 collaborates with its customers, developing strategies, products and services to support the financial well-being of more than 5 million diverse customers in communities across Canada.

Media Contact

Serge Leger

CMO

Collabria Financial

Phone: 403.283.1414

Email: [email protected]

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