DALLAS -- TNB Card Services, the card servicing and management arm of credit union-owned Town North Bank, has picked up the card processing business of three more credit unions and is continuing to expand its role as a key card processor in the credit union space.
The three new processing clients are the $127 Service First Federal Credit Union, headquartered in the Sioux Falls area of South Dakota; the $84.5 million First Alliance Credit Union, headquartered in Rochester, Minnesota and the $50 million Employees Credit Union headquartered in Dallas.
TNB Card Services now reports serving more than 475 credit unions managing more than 1.6 million cards. This places it just behind PSCU Financial Services, a leading card processing and management CUSO whose members also use the First Data Corp. card processing platform.
Although TNB Card Services is a subsidiary of the bank, the structure of the bank's ownership often masks the fact that the bank is a CUSO--a fact that many of the CUs that process with TNB said they appreciate.
Concerned about major changes at its former processor, Service First President Roger Peters said TNB was the only alternative processor considered, because it is owned and operated by credit unions. He credited TNB's "quality of offerings and the manner in which they were presented" as pluses in the credit union's decision.
"Our credit card program has been stagnant for several years. We're looking to TNB to give our card program the face lifts it needs and better penetration," Peters reported.
The other new credit union clients expressed similar reasons for making the switch to TNB.