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TNB Card Services joins security council

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DALLAS (3/18/08)--TNB Card Services has joined the Payment Card Industry (PCI) Security Standards Council to develop the PCI Data Security Standard (PCI DSS), which aims to improve the security of card processing for credit unions. PCI DSS is a security standard founded by Visa Inc., MasterCard, American Express, JCB and Discover. The council developed requirements for security management, policies, procedures, network architecture, software design and other protective measures. TNB will have access to the latest payment card security standards from the council and can provide feedback on the standards. TNB Card Services has been owned and directed by credit unions since 1976 and serves more than 500 financial institutions.

CUNA Mutuals 401k ranks high in satisfaction

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MADISON, Wis. (3/18/08)--CUNA Mutual Group’s 401(k) plan has been rated highly in satisfaction by two independent research and information organizations’ client surveys. The first survey, conducted by 401kExchange, ranked CUNA Mutual as the No. 1 plan administrator since 1999 in the less-than-$1 million plan assets category. It also was the No. 2 plan administrator in 2007 for plans in the $1 million to $10 million asset range. CUNA Mutual, who was ranked among 80 providers, also rates No. 3 as a fund manager for plans less than $1 million in assets and No. 6 for plans between $1 million and $10 million. A second study by Boston Research Group measured the ability of 25 providers of 401(k) plans to satisfy sponsors’ needs with plans less than $5 million in assets. CUNA Mutual received top rankings in categories including: “understands needs,” “partners effectively,” “easy to do business with,” “minimizes administration burden” and “helps you meet fiduciary responsibility.” CUNA Mutual provides administration and funding services to more than 4,300 retirement plans for credit unions nationwide. It also is among the 12 largest retirement-plan providers in the country based upon plans serviced, the company said.