ALEXANDRIA, Va. — Credit unions' improved management of their credit card portfolios has started showing up in the latest statistics, according to analysis performed by card brokerage firms.
Asset Exchange, a leading card broker headquartered in Portland, Ore., reported that its analysis of NCUA's third quarter data shows that 60% of CU card portfolios grew faster than inflation, compared to 51% that did so last year. Credit unions' total card assets moved as well, from $22 billion in September 2005 to $24.2 billion in September 2006, a 7.8% increase in inflation-adjusted dollars, the broker said.
The average balance per CU credit card account is about $2,100 the broker added.
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