Town & Country CU Signs Long-Term Processing Agreement with TNB Card Services
Town & Country Credit Union of Minot, North Dakota, has awarded TNB Card Services a long-term processing agreement to manage and grow its $4.5 million card portfolio.
Dallas (Vocus/PRWEB ) November 10, 2009 -- Town & Country Credit Union of Minot, North Dakota, has awarded TNB Card Services a long-term processing agreement to manage and grow its $4.5 million card portfolio. The $210 million credit union is the third largest in North Dakota.
 The agreement includes TNB's innovative VIP CardStationTM and VIP Portfolio Pro®, part of its
VIP Solutions® portfolio management tools. With these capabilities, Town & Country CU will be able to internally manage daily monetary adjustments, including fees, balance transfers, and routine cardholder account updates. Management will also have access to reports related to settlement, collections, and delinquencies; this will enable them to better evaluate card performance, identify revenue opportunities, and spot portfolio trends. TNB will also take over the management of Town & Country CU's back office cardholder operations, allowing the credit union to offer 24/7 cardholder support.
TNB will also work with Town & Country to develop strategic promotions, as well as offer Rewards2U® for its Platinum cardholders, to drive increased usage and acquire new cardholders.
"TNB's capabilities will allow us to leverage the portfolio by giving us access to account level data that we don't have today," said Michelle Peterson, vice president of lending at Town & Country Credit Union. "We have a very strong portfolio - little losses, few delinquencies, and low chargeoffs - but because we have operated in a manual environment, it has limited our ability to grow the card portfolio."
Peterson added, "We have $17 million in credit lines available to our cardholders. TNB is going to help us determine exactly what we need to do to encourage and motivate our cardholders to make their Town & Country credit card their primary payment tool."
The 70-year-old Town & Country Credit Union has 15,000 members and is a community chartered institution with eight branches serving a large section of central and northwest North Dakota, as well as the Fargo-Moorhead region.
"Town & Country Credit Union is taking the right steps to improve its card performance," said Mark Fenner, senior vice president, TNB Card Services. "To make informed decisions about a card portfolio, it requires deep insight at the account level. With TNB's account management process and our portfolio management tools, Town & Country will have access to vital account information in real time, rather than having to wait days for the data."
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.
Contact:
Jan Dailey, SVP, Marketing Manager
972.391.6191
Kristine Tanzillo, Dux Public Relations
903.865.1078
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