ARLINGTON HEIGHTS, Ill. and COVENTRY, R.I. – Meadows Credit Union and Coventry Credit Union have sold their credit card portfolios totaling $20.4 million to Atlanta-based InfiCorp Holdings Inc., a subsidiary of First National of Nebraska. Under the agreement, InfiCorp will market credit card products to the current and potential membership of each credit union. AssetExchange handled the marketing, bidding, and transaction process for CCU. "The decision to sell our credit card portfolio did not come easily. Our first priority is to bring members the best in financial services," said MCU President/CEO Ed Buettner. "We are confident that our members will continue to receive the utmost in courteous service, responsiveness and attention to their unique financial needs." More than 50 credit unions have already sold their credit card portfolios to InfiCorp. MCU has $100 million in assets and serves 18,000 members. CCU has $150 million in assets and serves 27,000 members.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
