Not all credit card portfolio partners are created equal.
In what was almost a throw-away line in the Feb. 16 Editor's Column, it was suggested that the agent credit card portfolio at NIH Federal Credit Union's "illustrates the credit union difference and should make credit unions think long and hard about what could happen when selling their credit card portfolios."
Managing a credit card portfolio is an important aspect of the credit union's business, and credit unions cannot afford to leave a nonperforming asset on their books. Especially in the post-CARD Act era, selling portfolios has to remain a viable solution. The rules are changing and credit unions face increasing pressures from rate and risk compression, as well as tightening resources. And, let's not forget, that CARD Act changed the rules of the game for all issuers.
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