TNB to Manage and Grow $22 Million
U. S. Postal Service FCU Credit Card Portfolio
Dallas, August 31, 2009 - To get the most out of a credit card program a credit union needs confidence in, and a partnering relationship with, its processor. That's the way the U.S. Postal Service Federal Credit Union sees it. For these reasons, the $207 million credit union is converting its card processing to TNB Card Services to drive growth of its $22 million card portfolio.
U.S. Postal Service FCU, based in Clinton, Maryland, has entered into a long-term agreement with TNB to handle the processing and management of its card program. After examining various providers, the credit union decided to move its card program to TNB, considering it the most experienced and knowledgeable processor and the one best able to drive volume and profitability.
TNB is working with the credit union to identify the most effective strategies to enable U.S. Postal Service FCU to gain a competitive advantage, one that will result in new cardholders, greater usage, and increased value to the cardholders.
"Besides knowledge and capabilities, we were looking for a processor that we could trust and partner with to really make a difference in our card program," said Bill Chow, Vice President of Operations for the U.S. Postal Service FCU. "TNB stood above every company we evaluated."
Chow added, "TNB has clearly demonstrated that our business is important to them and that it offers the right tools and strategies to drive card growth and deliver a more valuable card product to our members."
"TNB brought card products to the credit union market," said Mark Fenner, senior vice president, TNB Card Services. "We know this business inside and out and are extremely successful at constructing strong and profitable card programs. We look forward to playing a role in growing U.S. Postal Service FCU's card portfolio."
The U.S. Postal Service FCU serves 25,000 members through nine offices located in Maryland, Virginia, North Carolina, California, Pennsylvania, and the District of Columbia.
About TNB Card Services
TNB Card Services, owned and directed by credit unions since 1976, provides electronic payments processing for credit unions nationwide. Serving more than 550 financial institutions of all sizes and managing more than 2 million cards, Dallas-based TNB enables credit unions to enhance member loyalty through credit union-branded card products. For more information about TNB, go to www.tnbcard.com or call Mark Fenner at 1-800-422-0733 ext. 6655.