PORTLAND , Ore. , November 25, 2009 – AssetExchange, a leading credit union credit card portfolio advisory and brokerage firm, has analyzed third quarter 2009 credit union credit card portfolio trends.

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

• Outstanding balances grew at an annual rate of 6.2% between
  September 2008 and September 2009 to $33 billion, roughly the
  rate as second quarter growth. Total assets at these credit unions
  at an annual rate of 10.1% in the third quarter of 2009.
  
  
• Card accounts grew at a 1.9% annual rate over the same period
  million.
  
  
• The percentage of portfolios that grew more than the rate of inflation during the previous 12 months increased to 81% in the third quarter 2009 from 56% in the third quarter of 2008, as the inflation rate negative. In the third quarter of 2009, 74% of portfolios grew in nominal terms.
  
  
• Cards as a percentage of total assets declined to 4.68% in the third
  quarter of 2009, down from 4.86% in the third quarter of 2008.
  
  
• Credit card penetration remained approximately flat in the third
  quarter of 2009 at 18%.

Data provided in this press release is for credit card portfolios larger
$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 (‐1.29% between September 2008 and September 2009).