PETERBOROUGH, N.H. — The $35 million Adirondack Regional Credit Union, headquartered in Tupper Lake, New York, has become the latest CU to have sold its card portfolio to TNB Card Services and to enter into an agent issuing agreement with the CUSO.
TNB Card Services is the card portfolio management and servicing arm of credit union owned Town North Bank. Under the terms of the agreement, TNB has purchased the portfolio and will continue to service and issue cards in the credit union's name, according to Brookwood Capital, the independent card brokerage firm which brokered the sale.
The agreement brings TNB more than 1000 card accounts and over $1 million in receivable balances, the firm said.
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