AssetExchange Announces Analysis of Q3 2003 CU Credit Card Trends  

PORTLAND , Ore. , December 3, 2003 – AssetExchange, the leading independent credit card brokerage firm for credit unions, has compiled data about credit union credit card portfolios from the third quarter of 2003. Findings are based on NCUA call reports and the company’s observations.

Several trends emerged from the study related to card portfolio growth, membership penetration, and cards as a percentage of total assets. Among the major findings:

63% of CU card portfolios shrunk in past 12 months

• 63% of credit union credit card portfolios were smaller in September 2003 than in September 2002, continuing the recent trend.
• 90% of the 43 portfolios that have sold to date in 2003 shrunk in 2002.

CU card penetration continuing to decline
Similarly, penetration (fraction of members with a CU card) has been gradually dropping

Credit cards decline as a % of assets
Since December 2001, CU credit card outstandings have shrunk 5% while total CU assets have grown 39%.

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.