Fifth Third Processing Solutions (FTPS), LLC, announced its purchase of Town North Bank’s TNB Card Services last Wednesday on July 7. This new business venture by FTPS would result to advance the company’s capabilities to supply services and payment solutions for its clients.

The TNB Card Services have been providing a variety of capabilities and services such as debit, credit, prepaid cards, consulting, loyalty, ATM driving, and other services ever since 1976. These services are provided for the 370 credit unions in the Columbia District and 27 other states. These services also enhance member loyalty by making use of its top-quality services, products, and loyalty solutions.

With the TNB Card Services becoming part of the Cincinnati-based FTPS, one of the largest acceptance solutions and transaction processing providers in the world, this gives the company a bigger advantage and bolsters their position in the payments industry. And it would operate as a unit of FTPS by serving about 1.4 million credit and debit accounts of the company. This combination would also result in the increase of FTPS’s card portfolio to over 770 clients.

The CEO of FTPS, Charles Drucker, said in a statement that they are pleased to have acquired the distinguished TNB Card Services that had grown to be a leading figure in the credit market. Drucker further states that this acquisition would further FTPS’s capabilities one of the leading providers for the needs of credit unions as well as its many members. And that their company is looking forward to be working alongside the teams of TNB Card Services to further provide their services to their clients across the world.

Town North Bank chairman of the board and president of the Texas Bay Area Credit Union, Jesse Gutierrez, said that the team up of the TNB Card Services and the FTPS company would offer new opportunities for credit unions looking for partners who could assist them in achieving their various program goals.

CEO and President of Town North Bank, Steve McDonald, also said that this combination would be great news for credit unions and even future clients. McDonald also added that the TNB Card Services would give FTPS leverage in the industry, and would give more to the company’s capabilities to provide payment innovation, quality services, and a special partnership model for their many clients.

Town North Bank, one of the oldest and largest community banks that the state of Dallas has, where it is well known for the quality products and services it provides, and it has assets of around $900 million. The most lucrative aspect of the bank’s business is its credit card unit, which had produced around $118 million of Town North Bank’s $175 million in revenue last 2009.

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