When White Sands Federal Credit Union decided to sell its card portfolio, TNB Card Services was the only company invited to the table. The $170 million credit union already knew it could trust TNB with its card-carrying members. This latest acquisition brings to nearly 90 the number of portfolios that TNB has bought since it began the agent card issuing program in late 2002.


?White Sands was experiencing the same issues as so many credit unions, with a solid cardholder base, but limited growth,? said Jay Kurian, first senior vice president of TNB Card Services. ?They realized that they had two options ? invest in the portfolio to drive growth, or sell it to someone with a vested interest in their members and the credit union industry.?


White Sands Federal Credit Union, originally chartered in 1952, serves employees of the White Sands Missile Range and residents of Las Cruces, New Mexico. With more than 32,000 members and five branches, the credit union is the eighth largest in New Mexico.


William Jacobs, president of White Sands FCU and chairman of the New Mexico Credit Union Association board of directors, said White Sands FCU began considering selling its card portfolio about three years ago. ?We weren?t willing to take a lot of risk with the program and we marginally marketed our cards. We finally decided that we had to either invest in the program or liquidate it.?


?When we decided to sell we knew exactly who to call,? said Jacobs. ?We knew that TNB would manage the program well and we wouldn?t have to worry about the headaches of selling to someone else.?


TNB has been processing White Sands credit cards since the credit union began offering them in 1998.


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