Three More CUs Take Their Card Portfolios to TNB

DALLAS – Three more credit unions, two in Texas and one in Ohio, have sold their credit card portfolios to TNB Card Services and signed agent agreements with the firm to manage those portfolios. TNB Card Services is the card division of the credit union owned Town North Bank and has promoted its card portfolio purchasing program as a way credit unions can keep their card portfolios with credit union institutions. The two Texas credit unions are the $13 million Tyler City Employees Credit Union, headquartered in Tyler, and the $12 million Cherokee County Teachers FCU, headquartered in Rusk. The Ohio credit union is the $60 million Vantage FCU, headquartered in Brook Park. Tyler City Employees’ portfolio was valued at $223,000 in September and Cherokee Teachers at $93,000. Vantage’s portfolio was valued at better than $5.3 million in June. The purchases mean TNB has acquired 10 portfolios from credit unions overall and 15 card portfolios overall.