From increasing services to mitigating risks, the benefits of partnering with CUSOs and other vendors run the gamut, experts say.
Benefits in partnering with CUSOs and other vendors are real, but so are the dangers if not monitored correctly, experts say.
Extra CU in Warren sells $16 million credit card portfolio to TMG Financial Services.
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 co-author of Freakonomics says credit unions would benefit by looking at data, especially involving incentives, in new ways.
TMG Financial Services, the card portfolio purchasing and agent issuing arm of the The Members Group, said it grew from both additional card portfolio purchases and from card use last year.
As the final pieces of the CARD Act have slid into place, the mainstream media have been touting this legislation as a win for consumers.
Two credit unions, one in Texas and the other in Michigan, have recently been recognized for the ways they have used creativity and enthusiasm to rebut the myth that credit unions cannot successfully manage credit card issuing.
The credit card market in the wake of the Credit Card Accountability, Responsibility and Disclosure Act may be the most favorable ever for credit union card programs