TNB Gets A+ in Big Cards Deal

DALLAS – Just weeks after raising $60 million to help it pursue bigger cards deals, TNB Card Services said yesterday it had acquired the $16 million credit card portfolio of A+ FCU, of Austin, Texas, which includes more than 9,000 accounts. Under the agent issuing deal, TNB will offer competitive rates along with higher credit lines to cardholders of the $500 million credit union. Since many of the A+ credit union members have excellent credit ratings, they will be eligible for the most attractive credit card rates in the marketplace. Cardholders will also be able to participate in TNB’s rewards program. A+ will also offer a Platinum card and a Rewards Program for the first time and initiate a family account card program, which will benefit the many students attending the participating schools in the A+ service area. Finally, TNB will also work with A+ to expand its business card program, enabling it to offer improved products to this growing market segment. TNB is a unit of credit union-owned Town North National Bank.