PORTLAND , Ore. , February 23, 2005 – AssetExchange, the leading credit card portfolio brokerage firm, has compiled data about credit union credit card portfolio trends for year- end 2004.

For the roughly 2,200 credit unions with credit card portfolios of $1 million and larger:

• Penetration, or the percentage of credit union members that have credit union credit cards, continued its decline, falling from 19.0% in December 2003 to 18.4% in December 2004.
• Total card assets for portfolios over $1 million increased from 21.1 billion in December 2003 to $22.0 billion in December 2004. This is less than 1% growth in inflation-adjusted dollars.
• Total card assets for portfolios over $1 million continued their decline as a percentage of assets, falling from 4.29% in December 2003 to 4.22% in December 2004.
• 54% of card portfolios shrunk in inflation-adjusted dollars between December 2003 and December 2004.
• Approximately 65 credit unions sold their credit card portfolios, accounting for about $475 million in total volume.

Values provided in the data reported are for credit card portfolios larger than $1 million in each time period and are based on NCUA call report data. Inflation values are from the U.S. Department of Labor Bureau of Labor Statistics.

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 (877) 220-0001.