By Shazia Manus
When you picture the consumers of the future, do you envision your credit union playing an essential role in those lives? Great credit union leaders know their cooperative will remain relevant and valuable to future members only if they are willing to evolve. The Members Group (TMG), with a former credit union CEO at the helm, understands this well, and works hard every day to help more credit unions adapt to the changing needs of consumers. How does TMG, a 25-year-old Credit Union Service Organization (CUSO) that provides innovative payment solutions for credit unions, drive adaptation? By using industry-leading and consumer-centric payment innovations.
It’s becoming increasingly important to offer customers multiple ways to transact, whether to pay a monthly bill or to buy a morning latte. TMG’s product roadmap and focus on the financial consumer is based on this very idea: offering many innovative payment options so its credit union clients keep pace with competitors in what is quickly becoming a very complex marketplace.
TMG provides global solutions for payment products, including credit, debit, ATM and prepaid cards, as well as emerging payment solutions, including digital wallets, chip cards for the U.S. migration to the EMV standard and powerful data analytics tools to optimize payment portfolios. Now partnered with CO-OP Financial Services, the two companies serve nearly 50 percent of all U.S. credit unions and provide payment services to nearly 33 million cardholders. As leaders in innovation, TMG and CO-OP are creating a new standard in payments innovation.
For TMG, innovative thinking is about more than developing new products and services; it’s about identifying opportunities for strategic, collaborative alliances that ultimately help the credit unions they serve. The company believes credit unions have a tremendous opportunity with the financial consumers of today who are looking for a more personal relationship with their financial institution. It is why innovation will be a key driver for being a viable, competitive choice for today’s consumer.