TMG Financial Services, the credit card portfolio purchasing and issuing arm of The Members Group, reported that 34 credit unions have sold the firm their credit card portfolios, which TMG has continued to issue under agent agreements with the CUs. This means the Des Moines, Iowa, based firm issues more than 40,000 cards.

The organization also reported that ongoing interest on the part of credit unions in investing in credit cards has led to it having the capital it needed to buy them. Over the course of just over a year, the CUSO says participating credit unions have invested more than $60 million in the card program.

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