History
The Members Group was officially formed in 1993, though we've been providing card processing and payment solutions to financial institutions through various organizational structures since 1986. To understand our history, however, you've got to look even farther back.
Formation of the League
Our parent company, the Iowa Credit Union League, was formed in the 1930s as a trade association that would represent the interests of all Iowa state- and federally-chartered credit unions. During the 1950s, the League created ICUL Data Services to offer service bureau data processing services. At one time, these services were utilized by over 400 credit unions in 27 states.
New Technologies Emerge
As new technologies were developed in the 1980s, the companies under the League divided into specialties. Our data processing service grew into its own company, now known as Premier Systems, Inc. In 1986, we formed a company for check processing, Item Processing Corporation (IPC); and another company for card processing, Transaction Systems, Inc. (TSI). Each of these companies flourished in the late 80s, primarily in their respective midwest markets. Many of the original employees of these companies had extensive backgrounds working with the League and its members, which provided a sound framework for our CUSOs (credit union service organizations) to develop.
TMG is Created
In 1993, Item Processing Corporation and Transaction Systems, Inc. were combined to form The Members Group. The decision to unite under one company came in response to an ever-growing demand by the credit union industry for more diverse and competitive financial products and services. The consolidation effort enabled TMG to combine multiple facets of financial institution operations and provide end-to-end technology solutions that could be supported across the country.
Today we maintain our relationship with the Iowa Credit Union League, but we operate independently to provide innovative solutions to financial institutions across the country.
