TNB Card Services Balance Transfer Promotion Yields $4 Million for Credit Unions

For San Antonio City Employees Federal Credit Union, the joy of the 2005 holiday season extended into the first quarter of 2006, when the credit union gained more than $475,000 in new credit card balances. The credit union was one of 35 that participated in a Post-Holiday Balance Transfer promotion offered by TNB Card Services.

The overall promotion generated more than $4 million in new credit card balances for the participating credit unions during its three-month (February-April) period, with a per-customer average balance transfer of $3,800.

Attractive interest rates, ranging from 0% to 7.9% APR, gave cardholders an incentive to use the special balance transfer check supplied by TNB. San Antonio City Employees FCU, one of the most successful of the participating credit unions, offered three rates for each of its card levels. Cardholders who took advantage of the special offers transferred an average balance of $4,711, well above the average for this promotion.

?We were pleasantly surprised by the results of the program,? said Tim Haegelin, president and CEO for the 42,439-member San Antonio City Employees FCU. ?Our last card promotion was in 2004. The response to this offer convinced us that we need to promote our card program on a regular basis.?