Environmentally friendly Canadian credit card wins top innovation honour

CALGARY, June 27, 2011 /CNW/ - Bridgewater Bank and its credit card supplier, CPI Card Group, have been recognized with a Canadian innovation award for their new credit card, which won't clutter landfills after it expires.

Bridgewater Bank's Canadian Automobile Association (CAA) MasterCard credit card is the first of its kind in Canada which is biodegradable in a landfill.  The card is also equipped with the latest Chip and PIN technology features to provide added security and fraud protection.  CAA clubs, representing more than four million Canadians, offer the Bridgewater Bank credit card exclusively, which allows members to earn valuable CAA Dollars that can be used towards some of life's necessities as well as CAA products and services.

"This award means a lot to Bridgewater Bank. This is our first credit card product and we're proud to be able to bring an innovative and eco-friendly solution to our customers," says Peter O'Neill, chief operating officer of Bridgewater Bank. "Innovation drives our business and it's wonderful to be recognized in this way."

"CAA is pleased that a bank owned by the Alberta Motor Association (AMA) is now providing innovative MasterCard credit card products to so many of our members across Canada," says Tim Shearman, president of CAA. "Bridgewater Bank understands the needs of our members and is focused on providing a high level of member care."

"CPI Card Group is dedicated to research and development that drives innovation, leading to new products that assist our clients to better compete in the marketplace," said Anna Rossetti, business leader of CPI Card Group's Canadian Operations. "Working closely with MasterCard and Bridgewater Bank, CPI was able to meet the rigorous EMV standards* and cater to the environmentally-conscious consumer."

The award comes from Advanced Card Technologies (ACT), an international association for the advancement of card technologies.

"Innovation is the foundation for the future of any market," says Catherine Johnston, president and chief executive officer of ACT." From 26 nominations, only eight awards were given, so CPI and Bridgewater Bank are to be congratulated for their innovative work in banking and finance."

*Note: EMV international Chip card standards, developed by Europay, MasterCard and Visa, ensure that cardholders globally benefit from this innovation.

Bridgewater Bank, a schedule one chartered bank, manages a portfolio of close to $3.5 billion in residential mortgages, savings solutions and MasterCard® products. Operating since 1997, Bridgewater Bank's main office in Calgary, Alberta has over 200 employees proudly serving more than 60,000 customers across Canada. Bridgewater Bank is a wholly owned subsidiary of the Alberta Motor Association (AMA). For more information, visit bridgewaterbank.ca

The Alberta Motor Association (AMA) is the largest membership organization in Alberta, representing more than 908,000 members. As a leading advocate for traffic safety, travel and consumer protection, crime prevention, and the environment, AMA represents the interests of its members and the motoring public to industry and all levels of government. Visit www.ama.ab.ca to learn more about AMA's products, services and member advocacy initiatives.

CPI, a global leader in financial, commercial and identification card production and related services, offers a single source for card production, data personalization, security packaging, and card fulfillment services. CPI is a certified producer of products and services under the VISA, MasterCard, American Express and Discover card association brands. CPI has seven production facilities in the United States, Canada and Western Europe and offers the largest network of certified secure facilities in North America. For more information, visit www.cpicardgroup.com


A copy of this News Release can be found on our website at: www.ama.ab.ca/newsroom


SOURCE Alberta Motor Association (AMA)

For further information:

or for pictures of the new biodegradable card, contact: 

Tammy Yamkowy
Bridgewater Bank
1-888-718-1724
tyamkowy@bridgewaterbank.ca  
                    Melody van Frankfoort
CPI Card Group
905-761-4745
mvanfrankfoort@cpicardgroup.com

 


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