More credit unions drop CUETS.

xgbsSS wrote: ↑ Ive noticed that the CUETs website doesn't allow you to apply for any new card anymore. It has been "currently unavailable" for over a week. Wasn't trying to apply, but I was curious what other member institutions were still partnered to CUETs as you can search by letter with their form.

https://apply.choicerewards.ca/applicat ... cale=en_CA

**EDIT** Of course as soon as I post this, it's back, nevermind

titaniumtux wrote: ↑ Any eligible CU? I can't even input a CU name into the text box in the pop-up...

xgbsSS wrote: ↑ Ive noticed that the CUETs website doesn't allow you to apply for any new card anymore. It has been "currently unavailable" for over a week. Wasn't trying to apply, but I was curious what other member institutions were still partnered to CUETs as you can search by letter with their form.

https://apply.choicerewards.ca/applicat ... cale=en_CA

**EDIT** Of course as soon as I post this, it's back, nevermind

As of August 31, 2018, our former credit card supplier, CUETS Financial, stopped providing credit card services to Canadian credit unions. In light of this, we entered into a new partnership with Collabria Financial, the credit card organization selected by the national credit union system.

Nlcdn18 wrote: ↑It looks like CUETS is completely leaving the CU market based on this text from BlueShore financial. Their switchover date was a bit earlier than some of the other ones, but nonetheless it looks like CUETS will be gone soon



https://www.blueshorefinancial.com/Abou ... /05012018/

xgbsSS wrote: ↑ That language is odd. You could be right, however that wouldnt explain why they continue to keep signing new cardholders (why incur additional costs of signing new cardholders only to have them reissue brandless cards?). I would also expect CUETs to make an announcement first. CUETs has sent me a letter explaining the partnership with my credit union (1st Choice) ended July 31st, they would send me a non-branded card, and nothing else changes. The only saving grace for CUETs is that frankly their cards were never super competitive to begin with so most current cardholders where their credit union didnt buy out their accounts from CUETs will probably continue to use the card without switching. I dont see too many joining Collabria just because their credit union is offering them.

One thing I did notice is that although most credit unions have switched, most have kept the global payment mastercard partnership with CUETS.

jacnel wrote: ↑ What’s happening with CUETS is confusing. Every credit union is saying different things, some are changing for better products others say CUETS isn’t servicing the credit unions anymore. The only thing we know for sure is that any credit union with CUETS right now won’t be with them past the end of this year. What I can’t understand is why TD hasn’t said what they’re going to do with CUETS. Will they just merge it with MBNA? Will they open up CUETS to anyone who wants a card? Will they just close all the accounts in a year or two? Will they devalue everything (highly unlikely, their 1% return cards all have an annual fee)? Who knows.

As for the credit unions, they’re going to have a very difficult time switching everyone over. People from what I’ve seen hate being pressured into getting credit cards, they usually have one Mastercard and one Visa and rarely want to switch one out for another. Plus the credit unions who switched from MasterCard to Visa are going to have an even more difficult time. Many CU members I’ve talked to have one Visa, don’t want another, prefer to have a Mastercard with their CU but since their CU switched to Visa they don’t want to replace their MC with a Visa.

I’m sure the centrals are kicking themselves for selling CUETS back in 2007, because a provider switch would have been easier had they still owned the company. Not to mention if they still owned the company they could have changed it to be more like Collabria, without needing Collabria in the first place. I’m not sure why they sold CUETS to MBNA in the first place, seems like a bad idea with how profitable credit cards are.

xgbsSS wrote: ↑ My guess is that different credit unions in different regions may follow directions from the central. For instance, Atlantic Credit Unions follow similar product structures systemically. Just take a look at their different websites. If you hadn't looked at the name on the webpage, you would almost say they are the same company. So if Atlantic Credit Unions say they cannot offer it anymore, that could be due to the central or controlling central's decision hence why CUETs doesn't offer the product anymore. I am not familiar with Atlantic credit unions, so I am merely guessing.

I think selling CUETs to MBNA was supposed to improve credit cards services and bring better choice for the credit union system. CUETs was owned by Alberta and Sask Centrals and they didn't really have any know-how or sense in running credit cards.
https://www.newswire.ca/news-releases/m ... 35571.html

I think in the end, MBNA/TD did nothing to really change the credit cards and probably used it as a cash cow considering those that signed for CUETs merely did so because their credit union offered the card. I think the credit unions got fed-up and they approached Desjardins.

Poutinesauce wrote: ↑How surprising that they would eventually sour on TD. They were really stupid in thinking that a bank would work in their best interests.

Desjardins already provides credit card services and a lot of the backend infrastructure to credit unions all over the country, and they are a credit union themselves, so they are a much better fit.

Although ironically, their own credit cards are much worse than Collabria.

xgbsSS wrote: ↑ To be fair MBNA at the time was separate and the Bank of America subsidy that actually put out competitive products like Starwood Preferred Guest and Smart Cash.

Desjardins has the marketing know-how and background to support credit card processing and marketing. The reason why Desjardins cards suck is because Quebecois are so loyal to the brand that Desjardins doesnt even have to compete and they will have customers.

xgbsSS wrote: ↑ That language is odd. You could be right, however that wouldnt explain why they continue to keep signing new cardholders (why incur additional costs of signing new cardholders only to have them reissue brandless cards?). I would also expect CUETs to make an announcement first. CUETs has sent me a letter explaining the partnership with my credit union (1st Choice) ended July 31st, they would send me a non-branded card, and nothing else changes. The only saving grace for CUETs is that frankly their cards were never super competitive to begin with so most current cardholders where their credit union didnt buy out their accounts from CUETs will probably continue to use the card without switching. I dont see too many joining Collabria just because their credit union is offering them.

One thing I did notice is that although most credit unions have switched, most have kept the global payment mastercard partnership with CUETS.

Here2day2 wrote: ↑ According to this CU: https://luminusfinancial.com/Personal/N ... ETSNotice/

It appears CUETS is winding down as per a recommendation by a national credit union committee.

titaniumtux wrote: ↑ SCU CUETs cardholders have their cards de-branded, meaning it's CUETs only now. SCU offers their members who "had" their CUETs card to do a balance transfer to their new Collabria card.

Looks like CU's wanna aggressively switch to Collabria.