1999
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EQUIFAX, CUNA MUTUAL TEAM UP
TO BRING CREDIT UNIONS NEW CREDIT CARD INSURANCE PACKAGE
Contact:
Del Dockter 608-231-7427 (CUNA)
Jerry Karbon 608-232-6990 (CUNA)
Or Dave Mooney 404-885-8117 (Equifax)
ATLANTA, January 7, 1999 -- Equifax Card Solutions and CUNA Mutual Group are debuting a new credit card insurance enhancement package that will benefit both credit unions and their card-carrying members.
Through an exclusive marketing agreement, several coverages - Credit Disability, Involuntary Unemployment, and Family Leave - have been bundled in a highly attractive program that promises excellent member value and ease of administration.
Lee Kennedy, Equifax executive vice president, said, "The alliance between CUNA Mutual and Equifax brings together two of the industry's strongest performers in the areas of insurance and credit card enhancement programs."
According to Kevin Shea, CUNA Mutual’s Chief Lending Officer, "Credit card insurance programs are well known for their value in promoting credit card programs and encouraging responsible card use. They also offer credit unions income opportunity through administrative reimbursements, while protecting credit union members and their families."
Equifax, which acquired CUNA Service Group’s Card Services Division in 1996, handles more credit union card processing business than any other single processor in the U.S., with volume exceeding 11 million transactions monthly. More than 40 leagues and league service corporations endorse Equifax, which is the largest single provider of card processing service to credit unions in the world.
"Our 60+ years of providing lending-related insurance to credit unions and their members demonstrates our commitment to delivering quality products to a market we understand," says Shea.
CUNA Mutual Group is headquartered at the Credit Union Center, in Madison, Wisconsin. With more than $7 billion in assets, the company is the leading provider of insurance, financial and technological services to credit unions and their members worldwide. CUNA Mutual serves 99 percent of the more than 11,000 credit unions in the U.S. and some 30 million of their members. The principal companies of CUNA Mutual Group -- CUNA Mutual Insurance Society and CUNA Mutual Life Insurance -- are rated "A" (excellent) by A.M. Best. The company's credit insurance products are endorsed by the Consumer Federation of America. For more information on CUNA Mutual, visit the company's web site at www.cunamutual.com.
EQUIFAX (NYSE: EFX) is a worldwide leader in shaping global commerce by bringing buyers and sellers together through its information, transaction processing, consulting and knowledge-based businesses. Equifax serves the banking, financial, retail, credit card, telecommunications/utilities, transportation and healthcare industries and government. Founded in 1899, Atlanta-based Equifax today has 14,000 employees in 18 countries and sales in more than 45 countries. Revenues for the 12 months ended September 30, 1998, were more than $1.5 billion. For more Equifax information, visit the company's Internet web site at www.equifax.com.
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Statements in this News release that relate to future plans, objectives, expectations, performance, events and the like are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those exNewsed or implied in these statements. Those factors could include worldwide and U.S. economic conditions, changes in demand for the company’s products and services, risks associated with the integration of acquisitions and other investments, and other factors discussed in the "forward-looking information" section in the management’s discussion and analysis included in the company’s annual report on Form 10-K for the year ended December 31, 1997, and in the "Year 2000 Information" section in the company’s quarterly report on Form 10Q for the period ended September 30, 1998.
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