PORTLAND , Ore. , March 1, 2010 –AssetExchange, a leading credit union credit card portfolio advisory and brokerage firm, has analyzed fourth 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 6.5% between December 2008 and December 2009 to $35 billion, continuing the trend of mid-single digit growth. Total assets at these credit unions grew at an annual rate of 9.7% over the same period.
  
  
• Card accounts grew at a 2.9% annual rate over the same period to 12.6 million.
  
  
• The percentage of portfolios that grew more than the rate of inflation during the previous 12 months increased to 70% in the fourth quarter of 2009 from 66% in the fourth quarter of 2008. In the fourth quarter of 2009 84% of portfolios grew in nominal terms, versus 67% in the fourth quarter of 2008.
  
  
• Cards as a percentage of total assets declined to 4.8% in the fourth quarter of 2009, down from 4.9% in the fourth quarter of 2008 as total credit union assets continued to grow faster than card balances.
  
  
• Credit card penetration continues to trend near 18%.
  
  
• Seven portfolios with about $42 million in balances sold in the fourth quarter of 2009. In 2009, 24 portfolios with about $325 million in outstandings were sold, an increase from the $98 million worth of portfolios sold in 2008 but still below 2007 levels.
  

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 (2.72% between December 2008 and December 2009).