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Credit Union Card Portfolios Show Solid Growth in First Quarter; 17 CUs Sold Portfolios

A few years ago many credit unions were questioning whether they could compete in the credit card market. A look at first quarter 2007 data shows they clearly can.

By Staff Writer | Updated on June 05, 2007

PORTLAND, Ore. — A few years ago many credit unions were questioning whether they could compete in the credit card market. A look at first quarter 2007 data shows they clearly can.

“There seems to be something of a reversal of fortune with credit unions with regards to their credit cards. Five or six years ago it was pretty flat, not performing well, not keeping up with the rest of the market. Now they are growing rather nicely,” said Frank Selker, president of AssetExchange, a card portfolio advisory and brokerage firm.

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