Payments/Credit/Debit

Another credit union based organization had entered the market for credit union credit card portfolios.

DALLAS -- TNB Card Services, the credit card portfolio processing and servicing arm of credit union-owned Town North Bank, continues to expand its CU card portfolio buying effort. The card processor has announced the purchase of a card portfolio worth $12 million from the $220 million AFTRA-SAG Federal Credit Union.

The Federal Trade Commission has petitioned and received from the U.S. District Court for the Central District of California a temporary restraining order and asset freeze against four companies and two individuals in the prepaid card business.

Elan Financial Services, a subsidiary of US Bank, has purchased the credit card portfolios of three more CUs.

Elan Financial Services, a subsidiary of US Bank, has purchased the credit card portfolios of three more CUs.

Loan participation and the ability to buy into the underlying CUSO are the two qualities that will differentiate TMG Financial Services as a buyer of credit union credit card portfolios from its competitors, according to Jeff Russell, executive vice president of TMG Financial Services and chief information officer for the...

The $1.5 billion CommunityAmerica Credit Union has struck upon another way to help guide members to one of the 25,000 fee-free CO-OP ATM Network ATMs that are available to them across the country.

TNB Card Services, the card portfolios servicing and purchasing arm of credit union owned Town North Bank, has purchased the credit card portfolio of the $330 million Island Federal Credit Union headquartered in Hauppauge, New York.