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Renewed agreement extends more than 20 years of collaboration, helping credit unions maintain strong, top-of-wallet card programs
CPI Card Group (Nasdaq: PMTS), a payments technology company and leading provider of payment cards and related digital solutions, has renewed a multi-year service agreement with Velera , the nation's premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. The agreement extends a strategic partnership spanning more than 20 years, with CPI continuing as Velera's primary partner for its payment card programs.
Velera supports more than 4,000 credit unions across North America, providing payment solutions and technology designed to help them operate securely and at scale. The renewed agreement comes as financial institutions balance modernization efforts with the need for reliable, consistent payment infrastructure that supports everyday debit and credit programs without disruption.
"Our credit unions rely on payment solutions that help them remain relevant and competitive for their members," said Cody Banks, SVP, Product Experience & Enablement at Velera. "For more than two decades, we've trusted CPI to support our needs. Extending this relationship helps our credit unions maintain strong, top-of-wallet offerings for the members they serve."
Through the renewed agreement, CPI will support Velera's financial institutions, continuing long-term consistency across debit and credit portfolios and giving credit unions confidence as they plan and manage their portfolios.
"Our collaboration with Velera reflects a shared focus on quality, scale and long-term value for Velera and the credit unions they support," said Peggy O'Leary , Chief Commercial Officer at CPI. The renewed agreement underscores the role of long-term collaboration in helping credit unions deliver reliable, trusted payment programs that support member engagement and everyday spending.
About CPI Card Group Inc.
CPI Card Group (Nasdaq: PMTS) is a payments technology company that is integral to the payments ecosystem. CPI's connections, people, and solutions enable payments for a broad and expanding customer base including thousands of U.S. financial institutions, processors, fintechs, prepaid program managers and more, and these customers count on us to deliver what's next. We continue to transform alongside the market, and for decades have invested in building deep connections and flexible solutions for our customers. Our proprietary platform and expertise uniquely position CPI to deliver today, tomorrow, and into the future as the market expands and payment methods evolve. Learn more at www.cpicardgroup.com .
About Velera
Velera is the nation's premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit velera.com .
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Solomon Joseph
(905) 510-1400
solomon@fletchergroupllc.com
