CO-OP announces acquisition of TMG

CO-OP Financial Services has acquired TMG and restructured its leadership team to deliver payments products and engagement services addressing today’s transformational market dynamics and make credit unions the most desirable financial providers to modern consumers.

“The acquisition of TMG and the evolution of our leadership team are designed to maximize benefits for the clients of both companies,” said Todd Clark, President/Chief Executive Officer. “We are creating a new CO-OP that embraces technology and best-in-class service delivery to create a seamless, secure and personalized experience for our clients and their members; however they choose to interact with their credit union using a CO-OP product.”

CO-OP had been the minority owner of TMG and purchased all remaining shares of the company from the Iowa Credit Union League for $100 million. With the acquisition of TMG, CO-OP becomes a fully integrated, comprehensive payments services company, realizing the vision of the original partnership formed by the two companies in January 2012.

Read more at CO-OP.