ALEXANDRIA, Va. — NCUA's latest round of steadily improving card portfolio numbers may signify that more credit unions have discovered the value of an asset which had been previously largely overlooked.
According to brokers, analysts, and other card industry experts, the steadily increasing outstanding credit union card balances, combined with other rising statistics, shows that credit unions may have concluded that their cards can be an important, if demanding, source of revenue and growth.
"From our perspective it has been a while in coming, but we are pleased to see that more credit unions are taking the message of good card management to heart," said Robert Hackney, president of Card Services for Credit Unions, an association of credit unions that processes its card transactions with Fidelity Information Services.
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