Shifting consumer attitudes, compressed margins, new competitors and everchanging technology provide impetus for credit unions to drive their assets. Such as with TMG Financial Services' innovative credit card portfolio investment opportunity.
Des Moines, Iowa-based CUSO TMGFS created an option for credit unions considering the sale of their credit card portfolios. The Collateralized Advance Program allows credit unions of all sizes to invest capital into credit card assets through a collateralized loan to TMGFS. Credit unions can also ensure critical card assets remain in the credit union industry.
With funding from CAP, TMGFS purchases credit card receivables while collaborating with the seller to maintain a healthy, sustainable and cardmember-friendly program. CAP investors receive competitive yields based on soundly underwritten assets.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
