FOR IMMEDIATE RELEASE
ICBA Bancard/TCM Bank Ranks 23rd in U.S.
Community Banks Harnes Collective Power
Washington, D.C. (June 1, 2005) - ICBA Bancard/TCM Bank, the payments services subsidiary of the Independent Community Bankers of America, was the 23rd largest general-purpose credit card issuer in the United States for 2004, according to today's American Banker newspaper. This is the third consecutive year ICBA Bancard has moved up the card-issuing charts as community banks continue their robust growth in a market dominated by the nation's mega-banks.
"ICBA Bancard's affordable turnkey programs have allowed community banks to become power players in the payments services industry," said Linda F. Echard, president and CEO of ICBA Bancard. "Our member banks can offer their customers full-service payments options without losing the personalized touch that only community banks can provide. This ranking demonstrates our value in the marketplace."
David Hayes, chairman of ICBA Bancard and president and CEO of Security Bank in Dyersburg, Tenn., agreed. "ICBA Bancard is committed to helping community bankers thrive in the uncertain, challenging payments services industry," said Hayes. "Each year, we continue to expand our product, marketing and educational offerings to help community banks compete and increase their revenue across every payments category."
When ICBA Bancard was founded in 1985, less than 1 percent of community banks in the United States were direct issuers. Today, the annual credit and debit card sales volume generated by these banks exceeds $6 billion.