Mutual of Omaha Bank, a $5 billion bank subsidiary of the Mutual of Omaha insurance company, has signed on with TMG Financial Services as an agent issuer to launch a consumer and business credit card program.
TMGFS is the card portfolio purchasing and agent issuing arm of The Members Group, a financial services CUSO affiliated with the Iowa Credit Union League that already is the agent issuer for a Florida-based bank.
“Mutual of Omaha Bank looked at several providers in the card issuing arena. Conducting this type of due diligence assisted us in selecting the most compatible long-term provider,” said Matt Minchow, executive vice president, National Products, at Mutual of Omaha Bank.
“With TMGFS, along with its processing partners The Members Group, First Data and MasterCard, we found the perfect consumer-friendly credit card solution. We know we can count on this team to represent our brand in the marketplace,” Minchow said.
Jeff Russell, TMGFS CEO, said, “We have learned important lessons from our card members and financial institution clients that we bring to this new business relationship. It was obvious from the beginning that Mutual of Omaha Bank was looking for a top-level solution that can provide their customers with a competitive credit card program that truly puts the card member first.”