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Products

TNB Card Services reports satisfaction survey results

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FARMERS BRANCH, Texas (3/11/08)--Credit union clients indicated that they are satisfied with their decision to sell their credit card portfolios to TNB Card Services in a recent survey, says TNB. Credit Union Resources Inc. surveyed a group of credit unions in November. Of those, 72% said the change in ownership of their card portfolios met their expectations and goals for the transition. Satisfaction rates increased to 90% for credit unions who sold their portfolios a year or more ago (LoneStar Leaguer March 10). Of credit unions who indicated that they would sell their portfolios again, 86% said they would sell to TNB. About 72% of credit unions who have been in the program for more than one year said they would recommend TNB to their peers. TNB notes that recent industry surveys indicate that 42% of credit unions who sold their portfolios would do so again with the same company. TNB provides credit and debit card processing and ATM servicing. In the past five years, the company has purchased more than 160 card portfolios, all of which were included in the survey.

Webinar to address securing IDs when outsourcing

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MADISON, Wis. (3/11/08)--Credit union professionals can ensure they have taken the proper steps to secure their members’ personal information when outsourcing to third party vendors--and that they are satisfying regulatory requirements--during a Credit Union National Association (CUNA) webinar June 17. “Vendor Due Diligence--Securing Your Members’ Information” aims to help train any credit union staff directly working with outside vendors. Attendees will examine National Credit Union Administration guidance on vendor due diligence and learn how to perform a vendor risk assessment. The class also will identify the components of a vendor due diligence program and explore insurance issues, internal controls, and the roles of different credit union professionals in a contract review. Other CUNA webinars highlighted during the second quarter include:
* Bank Secrecy Act Training for Directors,” May 8, where volunteers will learn the major elements of BSA and those the board must engage. They will also discover what examiners expect from credit unions in risk assessment, customer identification, transaction monitoring, and reporting; and * “The ABC’s of Individual Taxpayer ID Numbers,” May 15, which walks attendees through the individual tax identification number (ITIN) application procedures to ensure submissions are processed quickly. They will learn the roles of acceptance agents, and then discuss the policies, procedures, and potential problems of developing an ITIN program.
For more information, use the links.