Card Brief: Pledges Reach $6.6M For CUNA Card Group

CUNA Service Group said it obtained commitments from 28 credit union leagues for $6.6 million in financing to help its card services division continue credit and debit card processing.

After substantial losses last year, the card services division is seeking new ownership, a company spokesman said.

The company's target was $4.9 million.

A request for proposals was distributed at the end of last month. Twenty-four companies have expressed an interest in partnerships or in buying the card services division. Bidders have until May 24 to respond.

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