DALLAS -- In a move designed to strengthen its credit card portfolio and improve the product for cardholders, The $85 million People's Federal Credit Union of Amarillo, Texas, has moved its card processing to TNB Card Services.
TNB Card Services is the card portfolio management and purchasing arm of credit union owned Town North Bank.
The People's FCU, the latest credit union to upgrade its credit card program through TNB's processing capabilities, was looking for two key features in its partner--a rewards program and energetic marketing, said Art Hornell, CEO and general manager.
"Our previous processor didn't offer the types of rewards and couldn't provide the marketing help that we needed," Hornell explained. "TNB is a strong processor, and its Rewards2U(R) is an appealing rewards program, which we know will be attractive to our members."
"For the credit union, we will tap TNB's marketing and card expertise to identify what we can do to grow our portfolio. For our members, this arrangement will bring them better rates, rewards, and a product they will feel good about using."
Hornell added that in concert with the move to TNB, The People's FCU is also taking advantage of TNB's portfolio analysis consulting expertise, both for an overall review of the credit union's credit card program and to prepare for a move to a stronger risk-based pricing approach.