CUSO CEO 'more than a little concerned' about the impact on the ability to foster innovation in CU industry.
Two credit unions that had previously sold their portfolios to agent issuers are replacing national bank issuer contracts as they expire, they said.
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.
CUs going with TMG as contracts expire with national bank issuers.
The Members Group, the Des Moines-based card and payments processor serving credit unions, is losing its long-time president/CEO, Tom Kuehl, who is retiring by year end.
LAS VEGAS — Multi-service provider Xtend Inc. has received NACUSO’s 2011 CUSO Collaboration and Innovation Award.
There are signs credit unions have begun to organize themselves to meet their and members’ needs for temporary mortgage finance. It’s called warehouse financing.
Jeff Russell, president/CEO of TMG Financial Services, suggests reviewing all of your products and services to push them to their potential.
TMG Financial Services, the card portfolio purchasing and agent issuing subsidiary of The Members Group, will start an agent-issued card portfolio for the Desjardins Bank of Florida.