TMG Financial Services, the card portfolio purchasing and agent issuing arm of the The Members Group, said it grew from both additional card portfolio purchases and from card use last year.

The CUSO reported that Community 1st Credit Union and Jersey Shore Federal Credit Union had sold it their credit card portfolios in 2010 and that, combined with card use, lifted the CUSO’s card balances by 9.5%. This significantly outpaced the pace of credit card balance growth in credit unions overall and strongly outpaced the overall card industry which often saw balances dip in 2010.


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