AssetExchange Analyzes Credit Union Credit Card Portfolio Trends for 4th Quarter 2007

PORTLAND , Ore. , November 20, 2007 – AssetExchange, the credit union community’s leading credit card portfolio advisory and brokerage firm, has analyzed 3rd quarter 2007 credit union credit card portfolio trends.

For the roughly 2,100 credit unions with credit card portfolios of $1 million and larger:

•     Credit union cards are gaining strength in the market.  In addition to more cards in the market, card balances have increased.  Since Sept. 2006, the average balance per account has grown by about 11% to $2,347 in Sept. 2007.

•     The percentage of portfolios that grew more than the rate of inflation during the previous 12 months increased from 60% in Sept. 2006 to 70% in Sept. 2007.

•     Total card assets for portfolios over $1 million increased from $24.2 billion in Sept. 2006 to  $27.5 billion in Sept. 2007, a 13.8% increase.

•     Total card assets for portfolios over $1 million increased as a percentage of total assets, increasing from 4.34% in Sept. 2006 to 4.67% in Sept. 2007.

•     Approximately 12 credit unions with credit card portfolios larger than $1 million sold their portfolios during the 3rd quarter of 2007, with a combined dollar volume of roughly $40 million.  This represents a 37% decrease in the number of sales and a 70% decrease in sales volume compared with the 3rd quarter of 2006.  Year to date portfolio sales volume has decreased 15% relative to 2006, dropping to $280 million from $330 million.

Data provided in this press release is for credit card portfolios larger than $1 million in each time period and is based on NCUA call report data.  Inflation values are from the U.S. Department of Labor Bureau of Labor Statistics (2.76% between March 2006 and March 2007).

About AssetExchange
AssetExchange is the credit union community’s leading credit card advisory and brokerage firm.  In addition to providing performance assessments and representation in portfolio sales, we help our clients compare and negotiate card processing contracts and evaluate outsourced card management opportunities.  Our services enable our clients to make sound financial and strategic decisions about the future of their credit card programs.  For additional information, please visit www.AssetExchange.com or call (877) 220-0001.