Product & Service
TNB Buys 3 More Portfolios
DALLAS-TNB Card Services has purchased the credit card portfolios of three of its card processing clients, and will now operate the programs as its own under its agent issuer program. Selling their portfolios were Rio Grande Credit Union in Albuquerque, N.M, 1st Community FCU of San Angelo, Texas, and Corps of Engineers FCU of Fort Worth, Texas. The CUs serve a combined membership of approximately 40,000 people.
For info: www.tnbcard.com or 1-888-742-0260.
SSFCU Live With DecisionApp
RANCHO CUCAMONGA, Calif.-CU Direct Lending said Security Service FCU has gone live with DecisionApp, an indirect lending platform now-administered by CU Direct. The $3.5 billion SSFCU averages auto loan volume in excess of $100 million per month in Texas and Colorado through its indirect lending channel.
Sale Of Bricks Raises $10K
DALLAS-Southwest Corporate FCU has now raised more than $10,000 through the sale of engraved bricks that will be a part of its new office complex here. Called the "Cornerstone Campaign," the effort is raising funds for the National Credit Union Foundation and credit union foundations in other states.
For info: www.swcorp.org.
Metavante Buys Prime Associates
MILWAUKEE, Wis.-Metavante Corp., the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI), acquired all the outstanding stock of Clark, N.J.-based Prime Associates, Inc. The company will continue to operate under the name of Prime Associates, and will become a subsidiary of Metavante Corp, with existing management continuing in their positions.
BVCU Signs On With Jumbo Express
DENVER-Boulder Valley CU has become the latest SunCorp client to sign on to the corporate's JumboExpress program. Charlie Mac purchases jumbo loans, which are loans over a credit union's conforming loan limits, to help credit unions control interest rate, credit and liquidity risk. Jumbo loans can be sold by CUs on either a servicing-retained or servicing-maintained basis.