TDECU and TNB Card Services Create One-of-a-Kind Credit Card

Dallas – Texas Dow Employees Credit Union (TDECU) and TNB Card Services have launched a one-of-a-kind elite card product that blends revolving and non-revolving credit to offer Triple the Buying Power™. The Onyx card, created specifically for TDECU members, was developed to compete against elite card brands.

Unlike any other credit union credit card, the Onyx card blends revolving and non-revolving credit, targeting members with credit scores of 720 and higher. A cardholder with a $10,000 credit limit can access up to three times the line of credit, for purchasing power up to $30,000. The first $10,000 is on a revolving limit, like a traditional credit card, in which the balance due can be paid in full each month, or revolve with interest. The remaining balance, or non-revolving credit, is due in full at the end of each billing cycle.

In addition to Triple the Buying Power, cardholders earn up to two percent cash back for all purchases, including non-revolving transactions. TDECU also customized a benefits package comparable with other high-end national credit cards. It includes benefits such as concierge service, extended warranty, price protection, Purchase Assurance, Master Rental, travel accident and baggage delay insurance, and ID theft resolution.

“We worked with TNB to create this card to fill a void for members that use competing high-end credit cards,” said Ron Wright, vice president of payment systems for TDECU. “We don’t just want a credit card. We want to offer an experience card.”

TDECU and TNB worked closely together to develop the card strategy and benefits, as well as the back-end system to ensure TDECU could effectively manage the card program.

Wright added, “We took a look at our entire membership and selected benefits that we felt would be attractive to our members from a brand and feature perspective.”

Darby McDermott, account executive with TNB Card Services, commented, “It wasn’t an easy task, considering we completely customized our processing for this product by developing new fraud tables and risk management strategies, in order to manage the complexity and expansion of the product. We also deployed an advanced behavioral scoring system to routinely monitor cardholder credit and automatically set new spending thresholds based on evolving credit score.”

The Onyx card was rolled out to select members for testing and is now available to all qualifying members. TDECU will begin aggressively promoting the card in the fourth quarter of this year.

About TDECU
Founded in 1955, TDECU is a not-for-profit financial cooperative with over 120,000 members and more than $1.4 billion in assets. TDECU currently has 18 service locations and offers a complete selection of convenient, innovative, and competitive products and services — including savings, checking, certificates of deposit, IRAs, money market accounts, auto and home loans, credit cards, free online banking and bill pay, insurance, investment services, business services, and much more. Members can also access over 37,000 surcharge-free Allpoint™ ATMs.

About TNB Card Services
TNB Card Services, owned and directed by credit unions since 1976, provides electronic payments processing for credit unions nationwide. Serving more than 550 financial institutions of all sizes and managing more than 2 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 Mark Fenner at 1-800-422-0733 ext. 6655.