DALLAS -- Another credit union has opted to process its card portfolio through TNB Card Services, the card portfolio purchasing and processing arm of credit union-owned Town North Bank.
Capital Credit Union, a $90 million CU headquartered in Austin, Texas, is the new client. The CU reported choosing to change processors over selling the portfolio, explained Anne Boatright, CEO at Capitol.
"We did a profit analysis and decided the card program is a good product, and that we needed to retain it for the benefit of our members and the credit union," Boatright said. "With TNB, we'll be able to enhance the program and promote it, which will make it even more valuable."
Boatright added that Capitol CU is looking to TNB for a richer rewards program along with stronger promotions than its former processor could provide, and variable rate pricing. TNB's portfolio consulting team is also working with Capitol CU to provide expert guidance on setting up the new program to achieve maximum value to the credit union and its members.
"By working with TNB, our members will have a variety of products to choose from," Boatright said. "We'll be able to offer promotional rates, giving us more opportunity to promote the card in different ways and make it more appealing to a broader member base."
--dmorrison@cutimes.com
