The New York Credit Union Association has signed a letter of intent with CO-OP Financial Services to sell the CUSO its payment subsidiary, Covera Solutions Inc.
Covera provides 248 credit unions with credit, debit, ATM and prepaid card services.
"If finalized, this purchase would be a win for credit unions, the association and CO-OP," NYCUA President/CEO William Mellin, said. "Most importantly, Covera credit unions would benefit from an expanded relationship with CO-OP, an innovative industry leader with an extraordinary commitment to credit unions."
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