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TNB buys CUs card portfolio
DALLAS (8/21/08)--1st CU of Gainesville, Fla., sold its $4 million card portfolio to TNB Card Services. The sale aims to provide 1st CU members with a more competitive card offering and strong rewards program. TNB Card Services, based in Dallas, provides electronic payments processing for credit unions nationwide. “As the economic environment changed last year, we realized in order to offer our members a robust card product and to be able to compete, we were going to have to make major changes to our card program,” said Wendy Richter, chief financial officer, 1st CU. “TNB’s partnership approach allows us to continue to market the card under our brand, and share in some of the decisions about the portfolio,” she added. 1st CU has assets of $44 million.


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