Business Credit Card Offered by TMG
TMG Financial Services, the agent issuing card arm of The Members Group, a payments CUSO affiliated with the Iowa Credit Union League, said that 19 credit unions have opted to begin offering business credit cards through an agent issuing relationship with the organization.
“The partnership with TMGFS allows us to provide our business members with an option that will enhance their financial management capabilities without diverting our resources and commitment to all of our other products and services,” said Jim Carr, vice president, commercial group of FORUM Credit Union, one of the 19 that has launched a business card with TMGFS.
Andy Mattingly, chief marketing officer with FORUM, explained that TMG had won its business card portfolio after the CU had ended its eight year relationship with FIA, the card issuing arm of Bank of America.
“We had sold our consumer card portfolio to the then MBNA and then started our business card program with FIA after Bank of America purchased MNBA. We liked it because we didn't believe we could provide the sorts of benefits our members would want in a business card on our own,” Mattingly explained.