Inc. magazine has recognized TMG Financial Services, the portfolio purchasing, card issuing and investment CUSO affiliated with The Members Group, as one of the fastest growing companies in the nation.
The publication ranked the Des Moines, Iowa, CUSO at number 340 on its 31st annual list of 500/5000 fastest growing, privately held companies.
TMG Financial Services both purchases credit card portfolios from credit unions and then continues issuing the card through agent-issuer programs with their sellers and provides credit unions with investment opportunities in their portfolios.
“The turbulent economic and regulatory environment of the past five years has provided both challenges and opportunities for everyone. For those of us in the payments industry, it certainly forced us to think differently. There are two reasons for our success,” said Jeff Russell, CEO of TMG Financial Services.
“First, our partners have been supportive and engaged at every level of the business. Second, our innovative, consumer-focused solution resonated with the marketplace. While being named to this year’s Inc. 500 list is a testament that we are on the right path, this is just one stop on a long journey,” Russell said.
The 2012 Inc. 500, unveiled in the September issue of Inc., is the most competitive crop in the list’s history, the CUSO commented.
“To make the cut, companies had to have achieved a staggering minimum of 770% in sales growth. The Inc. 500’ s aggregate revenue is $15.7 billion, with a median three-year growth of 1,431%. The companies on this year's Inc. 500 employ more than 48,000 people and generated over 40,000 jobs in the past three years,” TMGFS added.
"Now, more than ever, we depend on Inc. 500/5000 companies to spur innovation, provide jobs, and drive the economy forward. Growth companies, not large corporations, are where the action is,” says Inc. magazine Editor Eric Schurenberg.