TNB Picks up 4,000 Card Accounts

CPM Federal Credit Union, one of the dozen largest credit unions in South Carolina, has moved its credit card processing to TNB Card Services, so that it can deliver a more secure and more flexible program.

CPM Federal is the latest large credit union to switch processors in favor of TNB, and has transferred 4,000 credit card accounts to TNB in the changeover.

With nearly 50,000 members, CPM Federal’s membership focus is on employees of some 500 companies in South Carolina, as well as underserved areas in Orangeburg and Calhoun counties and other areas of the state. The 52-year-old credit union was originally founded for employees of the Charleston Paper Mill, now MeadWestvaco Corp. CPM Federal has total assets of more than $164 million.

“The products and services that TNB offered fit our needs, as we were looking for a better, more flexible card program for our members,” said George Lockwood, president and CEO of CPM Federal. “We liked the flexibility that the TNB card program offers, as well as the strong security.”

The fact that TNB is, and always has been, owned and operated by credit unions was a plus as CPM Federal considered switching processors, Lockwood noted.

“CPM Federal Credit Union will be a great partner, and we are glad that TNB can be part of strengthening their credit card program and delivering better, more secure products to their members,” said Dusty Bowers, senior vice president and national sales manager of TNB Card Services.