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Desjardins Group TMGFS pact to provide rewards cards
DES MOINES, Iowa (11/19/10)--In a historic agreement for cooperative financial institutions, TMG Financial Services and Desjardins Bank of Florida have entered into an agreement to offer a consumer rewards credit card to clients in the U.S.
Click to view larger image Daniel Veilleux, president and chief financial officer of Desjardins Bank of Florida, and Jeff Russell, president of TMG Financial Services, met in Canada to formally sign an agreement to offer a consumer rewards credit card to bank Desjardin members in the U.S. (Photo provided by TMF Financial Services)
TMG Financial Services is a subsidiary of TMG, a card processing credit union service organization affiliated with the Iowa Credit Union League. Desjardins Bank of Florida is a subsidiary of the Desjardins Group of Canada, a cooperative financial institution based in Canada. Desjardins Bank of Florida primarily serves Canadian citizens who have immigrated to or reside for part of the year in the U.S. TMG Financial Services has finalized an issuing agreement with the subsidiary and will begin underwriting credit cards in January. “This is a historic agreement for TMG Financial Services as we are partnering with one of the world’s largest and most well-known cooperative financial institutions,” said Jeff Russell, president/ CEO of TMG Financial Services. “With more than $173 billion in assets and 5.8 million members in Canada, Desjardins Group is a model for cooperatives across the globe.”


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