InfiCorp adds two more credit card portfolios

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.