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Four More CUs Sell Their Portfolios to TNB

DALLAS - Credit unions in California, Florida, Ohio and Wisconsin all agreed recently to sell their credit card portfolios to TNB Card Services and enter into agent relationships with the firm which is the card services arm of the credit union-owned Town North Bank. The four credit unions are the...

By Staff Writer | Updated on July 06, 2004

DALLAS – Credit unions in California, Florida, Ohio and Wisconsin all agreed recently to sell their credit card portfolios to TNB Card Services and enter into agent relationships with the firm which is the card services arm of the credit union-owned Town North Bank. The four credit unions are the $10 million, privately insured, A/C Credit Union, headquartered in Bath, Ohio which declined to reveal their portfolio’s valuation; the $7.9 million APP FCU, headquartered in West Palm Beach, Florida, which brought TNB a portfolio worth $69,000; the $24 million OCHA Credit Union, headquartered in Orange, California, which brought a portfolio worth $694,000 and composed of 736 accounts; and the $86 million Park City Credit Union headquartered in Merrill, Wisconsin, which brought a portfolio of $1.9 million composed of 1,800 accounts.

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