Carter Federal Credit Union of Springhill, La., has agreed to use TNB Card Services of Dallas for credit card processing.
TNB said Monday that it will convert 1,700 accounts, with balances of $2.4 million, for the credit union. The conversion, which is already under way, is expected to be completed no earlier than June.
TNB said another party, which it did not identify, handles debit processing for the $140 million-asset Carter Federal. Fidelity National Information Services Inc. had previously handled processing for the credit cards.
Carter Federal said that by moving its business to TNB, it expects its card program "to reach a growth goal of 15% in 2009." TNB will also help control the portfolio's risk "by implementing changes to pricing, product, and credit lines to ensure risk is properly balanced with the credit union's threshold."
Tim Shields, the vice president of credit administration for Carter Federal, said in a press release, "Being in a casino town increases our risk. … We need top-notch management tools that can peer into the individual account, as well as experts on hand to advise us how to mitigate risk."
Carter Federal will also use TNB's marketing programs and give cardholders access to its Rewards2U loyalty program.