Jeff Russell wants credit union executives to consider participations in credit union-issued credit card loans as one way they can boost their investment income in hard economic times.

Russell is the CEO of TMG Financial Services, the credit card portfolio purchasing arm of The Members Group, a card processing CUSO loosely affiliated with the Iowa Credit Union League. TMGFS is offering credit unions the second of its Collateralized Advance Plan offerings, mechanisms through which credit unions can invest in the CUSO’s roughly $32 million portfolio of credit union-issued credit card loans.
“We think the current economic conditions strongly favor investing in a loan program which can offer competitive yields from a very soundly underwritten investment,” explained Russell. “If anything, these days make having a higher yield even more important for credit unions.”

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