Fifth Third Processing Solutions (FTPS), a provider of payment transaction processing and acceptance solutions, has acquired the assets of TNB Card Services from Dallas-based Town North Bank.

According to the FTPS, the acquisition will enhance its capabilities to offer new electronic payment solutions to credit unions and their embers.

TNB Card Services currently provides credit, debit, and prepaid cards, loyalty, consulting and ATM driving with a full suite of back-office services to more than 370 credit unions in 27 states and the District of Columbia.

Charles Drucker, CEO of FTPS, said: “The acquisition furthers our position as a leading provider of innovative products and services for credit unions and their members. We look forward to working with the TNB Card Services team as they continue providing their exceptional servicing to their valued clients.”

Jesse Gutierrez, president and CEO of Texas Bay Area Credit Union and chairman of the board of Town North Bank, said: “The combination of TNB Card Services’ deep understanding of credit unions and their members with FTPS’ commitment to industry-leading technology will deliver an exciting choice to credit unions who are looking for a partner to help them achieve their program goals.”

Steve McDonald, president and CEO of Town North Bank, said: “TNB Card Services will leverage FTPS’ industry leadership and investment to provide their clients with electronic payment innovation backed with quality service delivery and a unique partnership model.”