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Card Sales Down, Card Performance Up in 2006, Says Broker AssetExchange; Card Penetration Up Due to Member Increases

An analysis of NCUA's year-end data from Asset Exchange, a leading broker of credit union card portfolios, indicates that fewer credit unions reported the sales of their credit card portfolios to NCUA in 2006 than in 2005 and the value of the outstanding balances of the portfolios also decreased.

By David Morrison | Updated on March 06, 2007

PORTLAND, Ore. — An analysis of NCUA’s year-end data from Asset Exchange, a leading broker of credit union card portfolios, indicates that fewer credit unions reported the sales of their credit card portfolios to NCUA in 2006 than in 2005 and the value of the outstanding balances of the portfolios also decreased.

Asset Exchange’s analysis showed that approximately 65 credit unions sold their card portfolios in 2006 (23 in the last quarter of the year), down 7% from the 70 that sold their portfolios in 2005. The total value of the portfolios sold was $454 million for 2006 ($125 million in the last quarter), which is down 3% from last year’s value of $470 million.

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