Press Releases

For Immediate Release

Contact:
Jan Dailey, SVP, Marketing Manager
972-391-6191, jan.dailey@tnbcard.com

Kristine Tanzillo, Dux Public Relations
972-889-9577, kristine@duxpr.com

Looking to Be a Star Performer, AFTRA-SAG FCU
Sells Its Credit Card Portfolio to TNB Card Services

Dallas – August 14, 2007 – AFTRA-SAG Federal Credit Union, the largest credit union in the nation exclusively serving entertainment industry professionals has decided to sell its credit card program to TNB Card Services. AFTRA-SAG Federal Credit Union, based in Los Angeles, has turned to TNB to enhance its product offerings and begin a rewards program.

The Los Angeles-based credit union, founded in 1962, serves members of the American Federation of Television and Radio Actors (AFTRA) and the Screen Actors Guild (SAG), and their families, along with numerous select employment groups in the entertainment industry throughout the United States. Those groups include organizations such as the Hollywood Foreign Press Association and American Guild of Variety Artists, as well as talent and production companies and others.

With the addition of the AFTRA-SAG Federal Credit Union, TNB’s agent issuing program has purchased the credit card portfolios of more than 130 credit unions, and is operating those programs on their behalf, bringing a wider variety of products and services to them and their members.

The 36,000-member credit union has assets of $220 million. Through the program sale, it has transferred some 6,000 card accounts to TNB, with outstanding balances of approximately $12 million. Its primary reason for selling was to institute a rewards program, explained Todd Nelson, vice president of marketing and communications for AFTRA-SAG Federal Credit Union.

“We expect the benefits to our membership will be immediate and obvious,” Nelson said of the program’s sale to TNB. “In order to remain competitive and position AFTRA-SAG as the financial institution of choice for our members, we want to extend as many benefits as possible, such as airline miles, merchandise points and other rewards program benefits.”

With TNB’s Rewards2U program, AFTRA-SAG cardholders will accumulate points that may be redeemed for a broad selection of brand-name merchandise; downloadable music, videos, and mobile phone ringtones to attract Gen X and Gen Y members; unrestricted airline, hotel, and car rental travel options, including cruises; and even charity donations. This flexible rewards program eliminates travel blackout dates and other restrictions, letting cardholders redeem their points through any travel agency.

AFTRA-SAG Federal Credit Union had been thinking of selling its card program for about 18 months before signing the deal with TNB. It decided that TNB was the best choice, Nelson said, because of its stellar reputation for service and support and the fact that it is and has always been run by credit unions.

“Our experience working with credit unions for more than 30 years means both agent issuing partners, such as AFTRA-SAG FCU, and our processing clients that own their own portfolios, can take advantage of the expertise and understanding we have of the needs of credit union members,” said Jay Kurian, first senior vice president of TNB Card Services. “Our clients can count on us to provide their members the best products and services in the card industry.”

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About TNB Card Services
TNB Card Services, owned and directed by credit unions since 1976, provides electronic payments processing, as well as an agent issuing solution for credit unions nationwide. Serving more than 500 financial institutions and managing more than 1.8 million cards, Dallas-based TNB enables credit unions to enhance member loyalty through credit union-branded card products. For more information about TNB, go to www.tnbcard.com or call Dusty Bowers at 1-800-422-0733 ext. 6555.

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