Catch21, Inc. completes acquisition of The Members Group item processing division
Norman, OK, October 1, 2010 – Oklahoma based Catch21, Inc., a national provider of outsourced check image processing services announced that they have completed the item processing line of business acquisition with The Members Group (TMG) of Des Moines Iowa. Catch21 has acquired all assets of the item processing division including current client contracts. The acquisition closed on October 1, 2010. This transaction will brings the total number of financial institutions processed on the Catch21 Checknology platform to over 100 consisting of all sized Credit Unions and Banks.
“The acquisition of the Item Processing division of TMG reinforces the commitment we have made at Catch21 to the item processing industry.” commented Kelly Ingram, President of Catch21, Inc. “All of TMG’s item processing clients will continue using the same system and processes already in place. Our commitment is to continue providing them with quality products and superior service levels, while allowing them to take full advantage of all efficiencies Check 21 related products are affording the industry now and into the future,” Ingram went on to say.
“After reviewing all options Catch21 was the obvious choice to minimize impact and create a seamless transition for our clients. They are committed to the industry for the future and will provide all of our current and new members’ needs for image check processing.” says Cynde Urness, Senior Vice President for TMG.
TMG is a wholly-owned subsidiary of the Affiliates Management Company, which is owned by Iowa credit unions and their members. As a financial and credit union service organization (CUSO), TMG is dedicated to providing innovative and flexible card processing and payment solutions to credit unions and financial institutions across North America. TMG’s core products include credit, debit, ATM and a variety of prepaid solutions, as well as online reporting, ACH and ALM services. TMG’s prepaid card products are branded ATIRA. For more information, visit www.TheMembersGroup.com.