ARLINGTON, Va. — It's unclear what impact a growth in defaults among credit cardholders generally will necessarily have on holders of credit union issued cards, analysts said.
An August 31 report in the Financial Times said that late payments are also up and that credit card companies have written off 30% more payments in the first six months of this year than the first six months of last.
But according to NCUA data, CU credit card performance through the first six months of the year has been robust and credit card analysts have said that, in general, credit union's more conservative underwriting and card portfolio management strategies should shield CU card portfolios from many of the problems besetting the industry generally.
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