DES MOINES, Iowa -- TMG Financial Services, the CUSO affiliated with the The Members Group, has announced the purchase of its first three credit card portfolios. The acquisition moves TMG into that cluster of credit union owned organizations credit union credit card portfolios.
TMG launched its card portfolio buying in mid 2007.
The card portfolios came from St. Cloud Federal Credit Union in St. Cloud, Minn.; MEMBERS1st Community Credit Union in Marshalltown, Iowa; and, Wyo Central Federal Credit Union in Casper, Wyo.
TMG reported that the purchases brought it approximately $6.3 million in account balances and 5,000 accounts, and TMG reported that the CUs were pleased to find their program.
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