FOR IMMEDIATE RELEASE
ICBA Bancard and Community Banks Rank as Power Players
Washington, D.C. (Jan. 26, 2005)—ICBA Bancard, the payments services subsidiary of the Independent Community Bankers of America, is the 26th largest Visa and MasterCard issuer in the United States, according to an annual Nilson Report ranking of bank card providers. The report also named ICBA Bancard the 85th largest issuer in the world.
“ICBA Bancard's ranking confirms, thanks to our affordable turnkey programs, community banks can be power players in the payments services industry,” said Linda F. Echard, president and CEO of ICBA Bancard. “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. Most importantly, our member banks' customers have full-service payments options without losing the personalized community bank touch.”
David Hayes, chairman of ICBA Bancard and president and CEO of Security Bank in Dyersburg, Tenn., agreed. “ICBA Bancard is deeply committed to addressing the concerns community bankers face in the uncertain, challenging payments services industry,” said Hayes. “As new technologies and opportunities emerged we have expanded our menu of product, marketing, and educational offerings to help community banks compete and increase their revenue across every payments category.”
This is the first time ICBA Bancard has submitted their data to Nilson's overall report. In the January 2004 issue of the Nilson Report, ICBA Bancard was ranked the 24th largest credit card issuer by outstandings and the 21st largest issuer by active credit card accounts. ICBA Bancard currently has over 2,000 product relationships with community banks across the nation.
The Nilson Report ranking is based on the combined sales volume for 2003 of the community bank credit and debit card issuers that participate in one or more of the company’s programs.
About ICBA Bancard & TCM Bank, N.A.TM