MY CU Services Acquires Suncorp's Bill Pay Service
The $3-billion Suncorp is selling of E-Quality Bill Pay service to MY CU Services, a CUSO of Mid Atlantic Corporate FCU in Middletown, Pa. Suncorp officials declined to provide a purchase price. Suncorp VP-Marketing and Communications Ed Beckmann said the corporate spent six months looking for a buyer, but chose MY CU Services over other suitors for its extensive experience in electronic bill payments. MY CU Services, he said, will be able to lower costs to credit unions offering bill pay.
"They're experts in their field and that's why we chose them," Beckmann said. Beckmann said the deal should be transparent to most member credit unions as both parties are operating off of the same bill paying platform. "As a corporate, we don't mind partnering with someone who can offer a better service," he said.
MY CU Services provides bill payment services to credit unions in 46 states, Washington, D.C. and Guam.