ARLINGTON, Va. — Credit unions around the nation are generally seeing significantly improved credit card portfolio performance, according to an analysis of second quarter card portfolio activity.
An analysis performed by Asset Exchange, a leading credit union card portfolio consultant and brokerage that is subsidiary of Fidelity National Information Services, found that the roughly 2,100 credit union card portfolios that were worth more than $1 million saw their average account balance increase by 10% from June of last year, to roughly $2,300.
Total credit union card assets also increased, moving up by 12.8% to $26.4 million versus $23.4 million at the end of June last year. Credit cards also moved up as a percentage of overall CU assets.
But sales also continued. According to NCUA data, as analyzed by Asset Exchange and Brookwood Capital, another leading CU card brokerage, sales continued at roughly last year's pace with between 18 (according to Brookwood) and 21 (according to AE) moving off credit union books in the second quarter.
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