Eleven Credit Unions Renews with CUSO TMG Financial Services

March 2, 2017         By: Mike Dautner

Eleven credit unions spanning across the United States have renewed partnerships with leading credit card issuer TMG Financial Services. This contract, on a multi year basis, signifies the movement’s enhanced interest in a credit union inclusive agent issuer.

“Running a sustainable, competitive credit card program isn’t getting easier,” said Benjamin Rempe, TMGFS vice president of business development. “Credit cardmembers are more demanding today than ever before. They want innovative ways to pay, clear and concise rewards, great perks, low fees – and all under an umbrella of outstanding, hyper-personalized experiences. That takes marketing savvy, data analytics know-how, underwriting skill and a deep bench of experts with futurist mindsets. Credit unions often find these capabilities easier to mobilize when partnering with a dedicated, outside resource.”

Ever since the agreement to partner with the agent issuer, these 11 credit unions blew bast their expectations-on average, outstanding balances growth of close to 80 percent overall. Others have achieved doubling the number of its members who now can say they carry the credit union’s credit card.

“Credit unions that have partnered with TMGFS have recognized the need to dedicate their resources to other important strategic initiatives. They’ve determined a focused and dedicated partner can help them maneuver a rapidly changing credit card ecosystem,” said Rempe. “We understand credit union members, and we know credit cards better than anyone else. That’s why our partners continue to rely on TMGFS to help deepen relationships with key segments of their membership base.”

Community 1st Credit Union is just one of the many credit unions to renew partnership with TMGFS, and it sold its portfolio to the agent-issuer CUSO back in 2010. Since that turning point. the Ottumwa, Iowa, credit union has grown cardmembers by almost 30 percent and outstanding balances by near 40 percent.

“From the annual employee incentive program to individual branch visits, the over and above strategies TMGFS executes demonstrates their commitment to our success,” said Hagen. “TMGFS staff works with our management to ensure our goals are accurate and to provide the kind of training and assistance that prepares us to provide a great member experience.

“Ultimately, we want to be our member’s primary financial institution,” Hagen continued. “The more products and services they open with Community 1st, the stronger we become as a cooperative. The credit card plays a key role in engaging our members.”