DALLAS — Five more CUs spread across five states have sold their credit card portfolios to TNB Card Services, the card processing and purchasing arm of credit union owned Town North Bank.
The new TNB agent issuers are Central Florida Healthcare Federal Credit Union in Florida, Plains Bell Federal Credit Union in Texas, Wyandotte Community Federal Credit Union in Michigan, Arkansas Superior Federal Credit Union in Arkansas, and Richland Federal Credit Union in Montana.
Among the five card programs, TNB added more than $4.6 million in outstanding balances to its agent issuing portfolio, the firm said.
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"For some credit unions, managing and growing their credit card programs through a dedicated management team with effective promotions is just too overwhelming," said Jay Kurian, first senior vice president of TNB Card Services. "That is when the best thing for the program may be to sell it. As a trustworthy partner and a part of the credit union movement for more than 30 years, TNB understands credit unions and delivers the best payment products and services to members thus, strengthening their relationships with the credit unions."
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