TNB Buys More CU Cards
DALLAS - (05/10/05) TNB Card Services said Mondayit has acquired four more credit union credit card portfolios andwill operate those card programs through its agent issuer program.The deal brings to more than 60 the number of credit unionportfolios bought by TNB since late 2002. The latest acquisitionsof from: Banner FCU, Phoenix, First Edition Community CU, Phoenix,Desert Energy CU, Tucson, and City CU, Independence, Mo. TNB is aunit of credit union-owned Town North National Bank. Separately,InfiCorp reported that during the first four months of 2005 it haspurchased 11 credit card portfolios representing more than $100million in outstandings. As part of the agreements, it hasestablished long-term strategic credit card lending alliances tomarket client-branded credit card products. InfiCorp said it nowhas more than 100 partnerships across the country.