DALLAS — TNB Cards Services, the card processing arm of credit union owned Town North Bank has continued to add card processing client credit unions as it has also purchased credit union card portfolios.
The latest is the $203 million E Federal Credit Union, headquartered in Baton Rouge, Louisiana. Other CUs that have also recently made the switch to TNB include the $177 million First Financial Federal Credit Union, headquartered in Wall, N.J. and the $169 million CPM Federal Credit Union headquartered in North Charleston, South Carolina.
The conversion brings 3,300 card accounts to TNB, the processor said.
With eight branches, plus an operations center, the $203 million E FCU caters to more than 21,000 members associated with ExxonMobil Corp., ExxonMobil Chemical Co., ExxonMobil Chemical Americas, and ExxonMobil Service Stations in Louisiana. The credit union also serves 30 SEGs located in Ascension Parish.
“TNB's ownership of credit card portfolios was a major reason we chose them as our card processing partner,” said Ken Bordelon, CEO of E Federal Credit Union. “We will be able to leverage TNB's portfolio management experience to improve card benefits for our members, offer better member service and support, and strengthen the overall profitability of our card portfolio.”
TNB's flexibility and pricing strategies were also key factors in the selection, Bordelon added.
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