DALLAS - Four more credit unions in Texas have sold their credit card portfolios to TNB Card Services, the card processing arm of credit union-owned Town North Bank that is based in Dallas. The four credit unions are the $69 million Santa Fe FCU, headquartered in Amarillo; the $40 million Gulf Coast FCU, headquartered in Corpus Christi; the $31 million First Community CU, headquartered in Portland; and the $18 million Shared Resources CU headquartered in Pasadena. Santa Fe's card portfolio was reported to NCUA at worth a little over $1 million in March, 2004. Gulf Coast's is valued at just under $1 million; First Community CU's at $858,000; and Shared Resources' at $1.1 million. "The fact that our current clients are choosing us to manage their credit card portfolios is a testament to our commitment to credit unions," said Rollie Penn, executive vice president of TNB. "We appreciate the trust our clients have placed in us and will continue to work to earn that trust."
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From the August-25, 2004 issue of Credit Union Times Magazine • Subscribe!
Four More CUs Sell Their Card Portfolios to TNB
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