PORTLAND , Ore., October 14, 2003 – AssetExchange, a leading credit card portfolio brokerage firm, brokered the sale of a $4 million credit card portfolio on behalf of 1 st Garland Community Federal Credit Union, a $57 million credit union based in Garland Texas. After reviewing several competitive offers obtained by AssetExchange, 1 st Garland chose to partner with InfiCorp Holdings.

“With declining balances, a 5.2% decline in interest income, and bankruptcies on the rise, we recognized that it would take significant resources to turn our portfolio around,” said Bob Taylor, the CFO of 1 st Garland Community FCU. “AssetExchange helped us craft a partnership with InfiCorp that I am confident will be excellent for our members and 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,” continued Taylor. “They saved us several months of work, had we tried to do this ourselves.”

1 st Garland Community FCU plans to reinvest the proceeds of their portfolio sale into their successful indirect auto-lending program.

“By taking the time to fully assess their portfolio and to consider multiple partnership offers, 1 st Garland can be confident in their decision to sell and choice of partner,” said AssetExchange CEO William Koo. “We are pleased to have been able to assist 1 st Garland in this process.”

About 1 st Garland Community Federal Credit Union
1st Garland Community Federal Credit Union (1stGCFCU) is a full-service, community-based, not-for-profit, cooperative financial institution, and is owned by the members who save and borrow at the Credit Union. The $57 million community-based credit union provides convenient, cost-effective and competitive financial services to more than 7,000 members.

About AssetExchange
AssetExchange is a leading credit card portfolio brokerage firm for credit unions and other financial institutions. Services include credit card portfolio brokerage, free performance assessments and market valuations, and best practices consulting. We bring multiple, competitive offers from all interested portfolio buyers so that credit unions have the best prices, terms and partnership options to consider when outsourcing their credit card products. For additional information, please visit www.AssetExchange.com or call (503) 220-0007.