Why Sell?

Today’s marketplace is unlike one we’ve ever seen, making the need for your credit card product to be a strategic offering more important than ever. Even as the economy has improved credit unions must address a number of outside factors to ensure they are meeting their members’ financial product needs – especially the credit card.

These factors include:

• The evolving interpretation and ramifications of the CARD Act on your portfolio.
• Increased market pressure from large bank issuers.
• Escalating costs from credit card fraud, compromised accounts and plastic card insurance.
• Rising delinquencies and charge-offs.
• Additional investment to your existing program to remain competitive (rewards programs, incentive pricing, marketing promotions).
• The need for specialized expertise in credit card portfolio management including underwriting, risk management, marketing and collections.
• The necessity to refocus on core competencies and the need to focus on what the credit union does best.

As you look at your portfolio, are you satisfied with its performance? Are you using all the tools available to you to maximize your portfolio’s potential? If you answered no to either question, do you know the reason why?

At TMG Financial Services, we help you navigate the conversation of whether selling is the right decision for you. Our team has extensive leadership experience in the credit union industry. That’s how we built a program that is member-friendly.

As your partner, TMG Financial Services provides many benefits.

• We are not a bank. We do not offer competing products to your membership.
• We provide a top-level card program to your members – platinum card, rewards, no annual fee, competitive interest rates.
• Your credit union brand remains front and center on the plastic and supporting materials.
• Our goal is that your members will use the new credit union card as their primary card.
• We offer investment opportunities at an attractive rate for the funds generated by the sale of your portfolio.
• Unlike our competitors, you may choose to have an ownership stake and share in the success of our company.
• Revenue sharing options, along with participation income, will replace your current credit card income stream, so the sale will have a positive impact on future earnings.
• We understand that your relationship with your members is important, so we include seamless integration into your operations, allowing payments and questions to still be taken at the branch.
• Plus, we offer expanded cardholder services like our 24/7 call center, online account access and statements, and much more.

The bottom line: at TMG Financial Services, we provide a solution that allows you to comfortably ask the question “is now the time to sell our portfolio?” 
 

For more information, please contact:

Ben Rempe, Vice President of Business Development
TMG Financial Services
(515) 457-5288