TNB Acquires Five Credit Union Card Portfolios

TNB has acquired an additional five credit card portfolios from credit unions in Missouri, Michigan, and Texas. TNB now issues cards for credit unions in 19 states.

Card portfolios were acquired from Heart ‘O Texas of Waco, Texas; Mountain Star Federal Credit Union of El Paso, Texas; Kensington Valley Community Credit Union of Highland, Michigan; Southpointe Credit Union of St. Louis, Missouri; and Jeffco Credit Union of Festus, Missouri.

According to Dusty Bowers, TNB senior vice president, "Credit unions tell us they seek TNB out because we are credit union owned and directed, and our pricing is member friendly."

Heart ‘O Texas Credit Union chose to sell its card portfolio because it lacked the staff and experience to make the program profitable. According to Mike Chaney, president of Heart ‘O Texas CU, “The decision to sell to TNB was easy, considering it has been processing our credit cards for more than 14 years. We are familiar with TNB and know they will treat our members right.”

With four branches and a membership base of federal employees and contractors living and working in McLennan, Bell, and Coryell counties, the credit union expects TNB to strengthen its card program and member relationships by delivering a competitive card product.

Kensington Valley Community Credit Union of Highland, Michigan, also sold its portfolio to TNB. The credit union serves members within seven independent school districts.