DALLAS -- Running against the current trend which has been away from credit unions selling their card portfolios, TNB Card Services announced it has purchased a CU card portfolio worth $10 million.

The $181 million Parda Federal Credit Union, headquartered in Auburn Hills, Michigan, has sold its portfolio to the card CUSO which is a subsidiary of credit union owned Town North Bank. A notice on the CU's Web site reported that the sale was finalized in January and predicted Parda members would have their new cards by the end of May.

Among the reasons the CU has cited for the change, according to its Web site, were wider range of possible interest rates to better serve a larger number of members who have varying levels of creditworthiness; very competitive rates, most of which are lower than those the CU can offer now; wider access to Platinum level accounts and expanded rewards programs.