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TNB Sweepstakes Boost New Accounts By 68%

DALLAS - TNB Card Services, the card processing and servicing arm of credit union-owned Town North Bank, saw new accounts in its agent portfolio relationships increase 68% in November and December 2005, over the same period in 2004, thanks to an employee incentive sweepstakes offered at 33 of its agent...

By Staff Writer | Updated on May 02, 2006

DALLAS – TNB Card Services, the card processing and servicing arm of credit union-owned Town North Bank, saw new accounts in its agent portfolio relationships increase 68% in November and December 2005, over the same period in 2004, thanks to an employee incentive sweepstakes offered at 33 of its agent credit unions. TNB has made a niche for itself in the portfolio market by offering CUs interested in selling their credit card portfolio a credit union owned way of doing so. Employees at the 33 CUs earned another entry for each new account generated from applications they provided and credit union employees’ names earned another entry in the contest drawing. The employees also won prizes based on the number of opened card accounts during the sweepstakes, the card servicing firm said. The prize was a four-day cruise and Brandi King, a loan officer at the $51 million Banner Federal Credit Union in Phoenix, won the prize. This was the first time TNB tried a sweepstakes incentive with agent CUs and a spokesman for the firm said it fit in with TNB seeking to build strong relationships with the CUs whose card portfolios it owns.

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