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AssetExchange Brokers Sales of Ten Credit Union Credit Card Portfolios
PORTLAND , Ore. , February 1, 2005 – AssetExchange, the leading credit card portfolio brokerage and advisory firm, brokered the sales of credit card portfolios on behalf of ten credit union clients. Combined, these portfolios represent approximately $56 million in credit card assets.
AssetExchange conducted portfolio performance assessments for each credit union and assisted in the establishment of agent card partnerships with leading card issuers. Each credit union reviewed up to five partnership offers before selecting one that best met their criteria.
The following credit unions sold their portfolios and formed partnerships with InfiCorp:
- Old Hickory Credit Union (Old Hickory, TN)
- Sun Community Federal Credit Union ( El Centro, CA)
- Triangle Credit Union ( Nashua, NH)
- Community Financial Federal Credit Union ( Broomfield, CO)
- Guardian Credit Union ( West Allis, WI)
The following credit unions sold their portfolios and formed partnerships with TNB Card Services:
- Advantage Plus Federal Credit Union ( Pocatello, ID)
- Windsor Locks Federal Credit Union ( Windsor Locks, CT)
The identities of three additional credit unions will remain undisclosed.
"AssetExchange gave us everything we needed to make an informed decision about keeping or selling our portfolio,” said Jan Billotti, Community Financial FCU CEO. “They were never pushy and delivered on everything they promised. We are very pleased with the work they did to help us assess our portfolio financials, evaluate our options, and find a great partner for issuing our credit cards. Simply put, AssetExchange exceeded our expectations."
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 work with credit card issuers of all sizes to assist in evaluating options and opportunities in the market, including the establishment of successful outsourcing partnerships. We help our clients achieve optimal pricing, negotiate revenue-sharing opportunities, and establish favorable partnership terms. For additional information, please visit www.AssetExchange.com or call (503) 220-0007.
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