DALLAS — TNB Card Services, the card portfolio purchasing and management arm of credit union owned Town North Bank, has sponsored a survey of its clients that indicates a large percentage of those who responded to the survey have been pleased with their sale.
TNB said it has long been interested in feedback from its client credit unions but decided to make the survey results public after noted card consultant and broker Asset Exchange began to survey CUs which sold their portfolios. Asset Exchange collected and released data on purchases in aggregate but did not release it by individual purchaser.
TNB used Credit Union Resources, Inc, to conduct the survey, a firm owned by the Texas Credit Union League. TNB has been buying portfolios since 2003 and has purchased more than 160. All of the agent issuing clients were included and 25% of the CUs surveyed responded.
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Of those surveyed, 72% of CUs overall reported the change in ownership of their card portfolio had met their expectations. The number jumped to 90% among CUs which have been TNB clients for more than a year.
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