TMG Financial Buys Cards From Seven CUs

Published June 30, 2009, 6:10 p.m. EDT

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Updated August 27, 2020, 12:35 a.m. EDT

1 Min Read

DES MOINES – TMG Financial Services, the year-old card venture owned by Iowa credit unions, said yesterday it has stepped up its purchasing with separate deals for seven credit union portfolios.

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TMG has purchased the credit card accounts from Beehive CU, Saks Fifth Avenue Enterprises FCU and five small Iowa credit unions, representing a total of 5,500 accounts worth $8.8 million. The Iowa credit unions are: Mercy-City-Lehigh-Family CU, Family Community CU, United CU, The Municipal CU and Midwest Utilities CU.

TMG Financial Services is a sister company to The Members Group, an affiliate of the Iowa CU League.

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