DALLAS — Even though the overall market for CU card portfolios may be slower than last year's TNB Card Services, the card portfolio purchasing and processing arm of credit union owned Town North Bank, has purchased a good many portfolios.
The CUSO has reported buying 45 portfolios this year, with five more CU's bringing the firm to more than 150 portfolios bought in total so far.
The latest TNB purchases include Grafton Suburban Credit Union of Massachusetts, Independent Federal Credit Union of Indiana, Western Cooperative Credit Union of North Dakota, County Schools Federal Credit Union of California, and Eastern Maine Medical Center Federal Credit Union of Maine. This series of purchases moved more than $8.4 million in outstanding balances and nearly 8,800 card accounts under TNB's ownership, the CUSO said.
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