ALEXANDRIA, Va. -- Analyses of CU card portfolio data show that fewer credit unions sold their portfolios to a third party in 2007 than in 2006 while credit union card performance continued its recent upward trend, according to CU card brokerages.
Asset Exchange, a noted broker of CU card portfolios that is owned by card processor Fidelity National Information Services, crunched the NCUA's 2007 numbers and reported that CU card portfolios of $1 million and larger had seen their outstanding balances rise 13.4%. Average balances per account grew about 10% over the same period.
Overall, 86% of portfolios grew between December 2006 and December 2007, with 69% doing so at a rate faster than inflation. Asset Exchange also noted that total card assets as a percentage of overall CU assets also increased, 4.63% in December 2006 to 4.96% in December of last year.
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