Winston-Salem City Employees’ Credit Union has sold its credit card portfolio to Dallas-based TNB Card Services, a leading provider of electronic payment processing services for credit unions. The acquisition added more than $1.3 million in receivables and nearly 1,000 cardholder accounts to TNB’s portfolio.
Members of the $53 million credit union that serves City of Winston-Salem employees and their families, along with approximately 80 employee groups, will soon have access to a Platinum card, competitive rates, and membership in Rewards2U, TNB’s innovative loyalty program.
“We want to increase card penetration by doubling the number of cardholders carrying our branded card in their pocket,” said Tony Ebron, president of Winston-Salem City Employees’ Credit Union. “With TNB’s expertise, card knowledge, and marketing capabilities we can position our card program to be competitive within our marketplace.”
“After conducting a self assessment of our portfolio, we knew we had to sell it to TNB in order to give members a better card product,” added Ebron.
Founded in 1957, Winston-Salem City Employees’ Credit Union has 8,500 members.
About TNB Card Services
TNB Card Services, owned and directed by credit unions since 1976, provides electronic payments processing, as well as an agent issuing solution for credit unions nationwide. Serving more than 500 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. TNB’s credit cards are issued by Town North Bank Nevada, N.A.