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InfiCorp purchases E-Central CU's $3.8 million credit card portfolio

ATLANTA - InfiCorp Holdings here has purchased a $3.8 million credit card portfolio from the $100 million E-Central CU (formerly Southern California CU), Pasadena, Calif. E-Central CU President/CEO Tom Graves said the CU did not have as broad an FOM as needed to increase its portfolio substantially, nor the in-house...

By Staff Writer | Updated on May 21, 2002

<p>ATLANTA – InfiCorp Holdings here has purchased a $3.8 million credit card portfolio from the $100 million E-Central CU (formerly Southern California CU), Pasadena, Calif. E-Central CU President/CEO Tom Graves said the CU did not have as broad an FOM as needed to increase its portfolio substantially, nor the in-house expertise to make it happen. Graves said a $4 million portfolio didn’t warrant hiring the marketing talent necessary to grow the portfolio. E-Central is in a very competitive market with Bank of America, Wells Fargo, Washington Mutual and not to mention four billion-dollar CUs targeting the Southern California region. InfiCorp Managing Director Keith Floen said CU activity in card portfolio sales is still growing. He said InfiCorp is seeing twice as many portfolios being shopped per month than normal.</p>

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