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Ric Carey, SVP/Client Strategies, Umpqua Bank |
"I found working with AssetExchange to be a very rewarding experience. They brought the right candidates to the table and assisted us in the selection process in a professional, first class manner. I always felt that our interests were well represented."
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Tom Dluzen, CEO, Cascades Community FCU |
"Anyone considering a card portfolio sale should work with AssetExchange. They put their experience to work for us, made sure that we were fully informed about our decision and gathered several strong options for us to consider."
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Renée DeMarco, CEO, Capital Community Credit Union |
"Selling a card portfolio is not something we have done before. AssetExchange truly represented our best interests and made this transaction a success. For nearly a year, they provided us with guidance and expertise, and they never pressured us to sell. We made the decision early on that we wanted to use a broker, and AssetExchange was the only one that could bring us offers from all potential partners, let us choose which partner was the best fit for our organization, and had the experience to guide us through the process. We couldn't be more pleased with the process or the outcome."
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Rick Weber, CEO, Colorado United Credit Union |
"We made a strategic financial decision to sell our portfolio, one that will also provide our members with enhanced credit card products. “AssetExchange did a great job assisting us with this process. Their thorough portfolio analytics were very insightful; they clearly identified all of our options and ultimately brought us several competitive offers to consider. We had a very positive experience with the AssetExchange team."
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Dean Borland, EVP and COO, Texans Credit Union |
"Our credit card portfolio made up just 6% of our loans, yet accounted for more than a third of our losses. We knew it was time to research our growth and outsourcing options. AssetExchange conducted a thorough assessment of our card program and helped us to evaluate our options. We considered keeping the program, but balances had been declining in recent years and the analysis revealed that it would be costly to reverse. AssetExchange presented side-by-side offers from every active buyer in the market and helped us weigh the strategic and financial implications of selling. As a result of the assistance we received from AssetExchange, I am confident we made the best decision. AssetExchange gave us access to the most competitive offers, which helped us identify the best partnership to suit our members’ needs."
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Jon Fate, Executive Vice President, Xerox FCU |
"AssetExchange did an outstanding job assisting us with the sale of our credit card portfolio. Their buyers, technology, and expertise with transactions were critical to us closing the deal smoothly. AssetExchange provided excellent support and guidance throughout the sales process, and helped us obtain multiple strong offers. We couldn't be more pleased with the AssetExchange process or outcome."
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Bill Cheney, CEO, Xerox Federal Credit Union |
"When we decided to sell our credit card portfolio, we first negotiated with just one buyer. Then, we joined the AssetExchange network and quickly received multiple offers with premiums significantly higher than the initial bid."
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Gay Lyne Tarango, CFO, Share Plus FCU |
"Anyone considering selling their credit card portfolio should include AssetExchange in their contacts to ensure a thorough set of options. They were professional and willing to assist in any phase of the decision process. They provided 'how-to's' and the 1-2-3's of evaluating potential buyers."
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Mike Baughman, Corporate Loan Director, Buckeye State SCU |
"We chose to work with AssetExchange because their service enabled us to cast a wide net for buyers. We conducted a thorough competitive assessment on a number of card portfolio acquirers. The AssetExchange network gave us several outstanding offers, which allowed us to base our decision on sound strategic and financial needs. The result is a partnership that will increase our ability to meet the credit card lending needs of our membership while strengthening the Buckeye SCU brand."
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Steve Johnson, CEO, Silicon Valley |
"I am very pleased with AssetExchange and the outcome of this process; they provided us with excellent counsel and helped investigate a number of strategies regarding our card portfolio."
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Jerry Clancy, CEO, Lone Star Credit Union |
"Several of my trusted colleagues had great experiences with AssetExchange, so I knew it would pay off to bring them on board when we were evaluating our credit card program. I am glad I did. I am confident that their competitive bidding process for our portfolio translated into the best terms and partnership arrangement available for our credit union. Anyone with a card portfolio could benefit from AssetExchange’s card industry expertise, their competitive process, and market knowledge."
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Lisa Johnston, CFO, Patriot Federal Credit Union |
"AssetExchange played two vital roles in this process. First, they gave us the broad national exposure necessary to attract the best buyer and, secondly, they had the expertise required to guide us through the complexities involved with this transaction. AssetExchange afforded us the opportunity to evaluate several competitive offers and to select a buyer that met our criteria."
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Jeffrey Weinstein, CEO, Certified FCU |
"Based on our portfolio and our prior experience with a broker, we were surprised by the extremely competitive bids we received. We were very impressed that AssetExchange helped us obtain a better partner and offer than we had expected."
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Bill Carhart, CEO, P & C Employees Federal Credit Union |
"Despite the relatively small size of our portfolio, AssetExchange worked diligently on our behalf to locate several competitive offers. They walked us through the entire process and made sure that our decision to sell was an educated one."
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Pat Yokley, CEO, Midwest United Credit Union |
"Because selling our card portfolio was a one-time transaction, it was very important to us we do it right. Although our decision to partner with InfiCorp was based on fit and not price, we were impressed that AssetExchange brought us bids that were significantly higher than we expected."
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Orlandus Waters, Senior Vice President, Financial Partners Credit Union |
"AssetExchange did an outstanding job of representing our interests and helping us find the best partner. They worked directly with our executive staff and board and they never pushed us to keep or to sell our portfolio. They presented us with both options and left the decision to us. AssetExchange brought us five excellent partnership opportunities and helped us through the entire review and negotiation process. We chose to partner with InfiCorp and look forward to the partnership's strategic advantages."
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Michael Gomez, CEO, Fiscal Credit Union |
Michael Gomez, CEO, Fiscal Credit Union
"We benefited tremendously from AssetExchange’s expertise. They knew the ins and outs of the market and maximized the competition for our portfolio. They presented each offer side-by-side, assisted us with the negotiation process, and truly represented our best interests. I highly recommend their services."
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Brad Harvey, CEO, Horizons North Credit Union |
"AssetExchange made it as easy as possible to find the best partner and offer for our credit union and portfolio. They maximized what we obtained for our portfolio and were especially helpful with the partner selection process."
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Travis Beck, Financial Analyst, Philips Federal Credit Union |
"AssetExchange's analysis of our card portfolio was enlightening and unbiased. It was refreshing to work with a brokerage firm that did not pressure us to sell."
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Paul Peterson, CFO, Ocean Communities CFO |
"Our goal has always been to provide our members with the best, most affordable financial products available. This looks to be a great result for everyone involved, most importantly our members, who will now be offered a wider array of excellent card products. Because AssetExchange brought several choices for us to consider, we are confident that we selected the best fit for our credit union."
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Glenna Osborn, VP and Chief Lending Officer, Missouri Central Credit Union |
"AssetExchange's detailed portfolio analysis was very revealing. We saw our card portfolio in a whole new light - which reinforced our decision to keep it. I highly recommend AssetExchange for their industry expertise and excellent service."
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Paul Chittum, CEO, Cloverbelt Credit Union |
"By partnering, we are able to expand our members’ access to affordable and competitive credit card products, protect ourselves from card-related charge-offs and fraud, and free up resources to focus on our core competencies. We benefited tremendously by having AssetExchange on our team. They brought in several partnership offers and assisted our management team throughout the process – without any pressure to sell or to choose a particular buyer."
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Bob Taylor, CFO, 1st Garland Community Federal Credit Union |
"We chose to retain AssetExchange because they had contacts will all of the buyers and the expertise to guide us throughout the process. They saved us several months of work, had we tried to do this ourselves."
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Dennis Sommer, CEO, Alliance Credit Union |
"Anyone considering the sale of their credit card portfolio should consider talking to AssetExchange - they understand the unique challenges that credit unions face when dealing this complex issue. With their professional guidance and expertise, we considered a variety of options and scenarios. After analyzing the pro's and con's for both keeping and selling our portfolio we then pursued the challenging task of deciding on the best partner for Alliance."
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Victor Petroni, CFO, First New England Federal Credit Union |
"AssetExchange's credit card assessment was terrific. Their analysis made it easy for us to evaluate our portfolio from a strategic perspective and they never pressured us to sell."
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Troy Garvin, CEO, Lapeer County Community Credit Union |
"We chose to work with AssetExchange for three reasons: They did not pressure us to sell, they brought us offers from every single buyer in the market, and they made sure we found the best price, terms, and partner for our credit union. Plus, they were able to facilitate the transaction in only two months."
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Doug Bennett, CEO, Northwest Plus Credit Union |
"AssetExchange did an excellent job gathering, analyzing and presenting offers from multiple buyers for our credit card portfolio. Their process gave us several choices and we selected the partner that was optimal for our credit union and members."
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Art Blickenstaff, Business Lending Manager, Denali Alaskan FCU |
"AssetExchange made selling our participation remarkably easy. They obtained numerous attractive offers within a matter of days and worked with us throughout the sale to ensure this transaction was a success."
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Mary Cunningham, President/CEO, USA Federal Credit Union |
“The advice I’d give to other credit union executives is, ‘Don’t ignore your card program.’ And I would recommend working with AssetExchange. They’ll help you gather all the information you need to evaluate and pursue your options. They don’t persuade or direct you, and they provide an objective yet comprehensive approach.”
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Kathleen Krommer, Executive Lending Officer, Southbridge Credit Union |
“Our credit card program was eroding and we did not have any measures in place to turn its performance around. AssetExchange worked with us to analyze our options and brought us offers from several potential partners. Even though they were based on the other side of the country, AssetExchange was always accessible and available to answer our questions. The insight and information they provided to us made it easy for our executive team to communicate with and gain consensus from our Board.”
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Jan Billotti, CEO, Community Financial Federal Credit Union |
"AssetExchange gave us everything we needed to make an informed decision about keeping or selling our portfolio. They were never pushy and delivered on everything they promised. We are very pleased with the work they did to help us assess our portfolio financials, evaluate our options, and find a great partner for issuing our credit cards. Simply put, AssetExchange exceeded our expectations."
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Anna Mendez, Senior Vice President of Lending, Mission Federal Credit Union |
"AssetExchange provided us with an unprecedented level of detail and insight into our credit card portfolio. Their information and guidance helped us evaluate three possible options, including a portfolio sale, retaining the portfolio, and retaining the balances while outsourcing program management. They remained very objective and we never felt pressured to sell. AssetExchange gave us the tools we need in order to make an informed, confident decision about our credit card business. Their levels of service, knowledge and professionalism were outstanding. I would recommend AssetExchange to any credit union that was contemplating the future of its credit card program."
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Lourdes Garcia, Vice President Lending, North Jersey Federal Credit Union |
“Working with AssetExchange was a refreshing experience. They provided us the objective, highly detailed financial and strategic assessment so we could make our own decision to keep or sell. All of our questions were answered fully and promptly. AssetExchange never pressured us to sell and only shared our data with buyers after obtaining our approval.”
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