Credit Union-Issued Credit Cards Capture More National Media Spotlight
February 23, 2010
(Des Moines, Iowa – February 23, 2010) – Hosting the CBS Evening News with Katie Couric on Friday, February 12, Michigan-based First Community Federal Credit Union received national attention for its revamped credit card program.
Crews from the news broadcast were on hand to interview Ondine Irving, a credit card consultant and founder of the new fair and ethical cards online database, CreditCardConnection.org. Asked by the show’s producers to select a credit union with an exemplary credit card program for the broadcast, Irving chose the $405 million First Community FCU.
Standing before a bank of First Community’s teller windows, Irving explained that the credit union had eliminated many of the fees associated with its credit card program. She added, “Credit unions can eliminate all that and still make a profit. And if credit unions can do it, the banks should be able to do it, too.”
At the conclusion of the segment, which aired Monday, Feb. 22, 2010, Couric noted that CBSNews had asked the five biggest credit card issuers for interviews for the story and that they either turned them down or didn’t respond to the request.
With the help of Irving and experts at TMG (The Members Group) – a CUSO focused on crafting profitable credit card programs for credit unions – First Community FCU recently restarted its credit card program after a sale of its portfolio more than five years ago.
First Community’s new credit card program offers its 50,000 members a choice between four VISA-branded credit cards, including a Platinum rewards card with a fixed rate as low as 8.9%. There are no annual fees associated with any of the cards.
“We’ve determined that credit cards are a strategic product for our credit union’s growth,” said Stephanie Davis, First Community FCU’s member solutions manager. “Tapping the expertise and resources of TMG, we’ve been able to develop an exciting program – one in which we are completely in control of member experience.”
About TMG
TMG is a wholly-owned subsidiary of the Affiliates Management Company, which is owned by Iowa credit unions and their members. As a financial and credit union service organization (CUSO), TMG is dedicated to providing innovative and flexible card processing and payment solutions to credit unions and financial institutions across North America. TMG’s core products include credit, debit, ATM and a variety of prepaid solutions, as well as online reporting, item processing, ACH and ALM services. TMG’s prepaid card products are branded ATIRA. For more information, visit www.TheMembersGroup.com.
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For More Information:
Kelly Moore (for TMG)
515-720-9670
