PORTLAND , Ore. , April 1, 2003 – AssetExchange, the leading credit card consulting and brokerage firm for credit unions, facilitated credit card portfolio sales between three credit unions and two card issuers. Credit unions that sold portfolios include:

• Westerly Community Credit Union, Westerly, RI; Total Assets: $114 million
• Northwest Plus Credit Union, Everett, WA; Total Assets: $70 million
• West Virginia Federal Credit Union, South Charleston, WV; Total Assets: $97 million

Each of these credit unions worked with AssetExchange to conduct strategic assessments of their credit card portfolios, including analyses of portfolio performance, projected growth, and market valuations. AssetExchange gathered competitive offers from numerous credit card issuers to provide the credit unions with several partnership choices. Westerly Community Credit Union partnered with Atlanta, GA-based InfiCorp Holdings, while Northwest Plus and West Virginia FCU partnered with an undisclosed credit card issuer.

“AssetExchange did an excellent job gathering, analyzing and presenting offers from multiple buyers for our credit card portfolio,” said Doug Bennett, CEO, Northwest Plus Credit Union. “Their process gave us several choices and we selected the partner that was optimal for our credit union and members.”

“It is important for credit unions to evaluate offers from multiple buyers before selling their credit card portfolios,” said William C. Koo, AssetExchange CEO. “The market for credit union card portfolios today is very competitive, and we encourage credit unions to choose a partner that best fits their needs. We are glad to have been able to assist each of these credit unions with their credit card portfolio strategies.”

About AssetExchange
AssetExchange is a credit card portfolio consulting and brokerage firm for credit unions. Services include free Strategic Card Assessments, portfolio growth consulting, and the facilitation of credit card portfolio sales between credit unions and multiple credit card issuers. For additional information, please visit www.AssetExchange.com or call (503) 220-0007.