Numbers speak louder than words, page-17

My comments are below… but first this is what Wikipedia thinks of Cuscal…

Cuscal Limitedis an Australian company that predominantly provides transactional banking, liquidity and capital management services and products to institutional customers including credit unions, mutual banks andsuperannuationfunds.^[1]Cuscal is regulated by theAustralian Prudential Regulation Authority(APRA) as an Australianauthorised deposit-taking institution(ADI), and by theAustralian Securities & Investments Commission(ASIC). It is a member ofEFTPOSPayments Australia and theAustralian Payments Clearing Association. Cuscal has an A+ credit rating.

Cuscal was established in 1992 as the Credit Union Services Corporation Limited and became Credit Union Services Corporation (Australia) Limited before changing its name to Cuscal Limited in December 2005.^[2]Cuscal replaced the state based credit union bodies, which had been in operation since 1956. Cuscal was incorporated as a Special Service Provider (SSP) under the financial institutions scheme, and assumed a role of providing liquidity and balance sheet support, in addition to aggregated access to money markets, to the mutual banking industry through its treasury function.

In 1994, Cuscal released the Credit Union Code of Practice. Until the Credit Union Industry Association (CUIA) and the Australia Association of Permanent Building Societies (AAPBS) merged to form a new joint industry association in 2006, the Association of Building Societies and Credit Unions (Abacus – Australian Mutuals) now the Customer Owned Banking Association (COBA), Cuscal also assumed the role of a trade association for Australian credit unions and co-operatives.

In 2014, Cuscal acquired Strategic Payments Services.^[3]

Services

Cuscal's services include:

• electronic and paper payment processing including Acquiring,eftpos, ATMs, NPP, Apple Pay, Google Pay, direct entry,BPAYand member and corporate chequing
• card products (including rediCARD debit and Visa debit and credit cards)
• specialised credit union finance facilities
• network communication services
• development of payments infrastructure
• Velocity Global Walletprepaid Visa product.

Treasury services include:

• mortgage securitisation services
• liquidity management and settlement services
• fixed interest / debt securities: Commonwealth bonds, Semi-government bonds, Corporate bonds, Commercial paper, Asset-backed securities
• interest rate derivatives: Fixed rate bills, Fixed rate agreements, Interest rate swaps
• financing products including standby letters of credit and guarantees
• bilateral loan facilities
• tradeable security brokerage services
• market and liquidity risk management advisory services
• fixed income portfolio management services

The comparison between Novatti and Cuscal is for each individual to assess….

My Comments:

I am merely an investor looking for the 10x .. and have passed on an email sent to me.

I’m currently down on my investment in this stock., however, I still believe in NOV … not sure I known many companies that have ever had linear growth … up’s and downs … and some make it and some don’t make it..

Why not email the researcher and challenge his views .. more information and/or clarification or corrections are good for all of us ! is it not?

Cheers Anton