TNB Cards Wins Another Big CU Portfolio

Published August 07, 2007, 7:42 p.m. EDT

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Updated August 27, 2020, 1:43 a.m. EDT

1 Min Read

HAUPPAUGE, N.Y. – Island FCU said yesterday it has agreed to sell its $8 million cards portfolio to TNB Card Services, another big win for the credit union-owned processor. Earlier this year, TNB acquired the $16 million portfolio from A+ FCU in Austin, Texas, and the $15 million portfolio of CME FCU in Columbus, Ohio. TNB, a wholly owned subsidiary of credit union-owned Town North Bank, has been an increasingly active buyer in the market since raising $60 million in a stock offering in January, acquiring more than 30 credit union portfolios since then. The company now manages credit card programs for more than 130 credit unions.

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