| AssetExchange Brokers Card Portfolio Sales for Three Credit Unions to Three Buyers
PORTLAND , Ore. , June 15, 2005 –
AssetExchange, the leading credit card portfolio brokerage firm, has brokered the sales of three credit union credit card portfolios to three different buyers:
- Pan Am Horizons Federal Credit Union (Miami, FL) sold their $4.6 million portfolio to InfiCorp.
- SourceOne Federal Credit Union (Brooklyn Center, MN) sold their $950,000 portfolio to TNB Card Services.
- Mokelumne Credit Union (Lodi, CA) sold their $930,000 portfolio to Elan.
AssetExchange conducted portfolio performance assessments and competitive partnership searches on behalf of each credit union.
"AssetExchange was absolutely outstanding," said Pan Am Horizons CEO, Allan Prindle. "They made the entire process smooth and found the right partner for our credit union. I was so pleased with AssetExchange that I've already recommended their services to 2 other CEOs."
"Credit unions continue to look at outsourcing their card programs as a strategic move in a very competitive industry" said AssetExchange CEO, William Koo. "We are pleased to have assisted these credit unions in negotiating and establishing these partnerships."
About AssetExchange
AssetExchange is a leading credit card advisory and brokerage firm for financial institutions. Services include credit card portfolio brokerage, performance assessments, and market valuations. We help credit card issuers evaluate credit card portfolio performance, assess the financial and strategic implications of a portfolio sale, and provide guidance throughout the portfolio sale process. We help our clients achieve optimal pricing, negotiate revenue-sharing opportunities, and establish favorable partnership terms for outsourcing credit card issuance. For additional information, please visit www.AssetExchange.com or call (877) 220-0001.
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