AssetExchange Analyzes Credit Union Credit Card Portfolio Trends for 1st Quarter 2007

PORTLAND, Ore., May 22, 2007 – AssetExchange, the credit union community’s leading credit card portfolio advisory and brokerage firm, has analyzed 1st quarter 2007 credit union credit card portfolio trends.

For the roughly 2,050 credit unions with credit card portfolios of $1 million and larger:

•      Credit union cards are gaining strength in the market.  In addition to there being more cards in the market, card balances have increased dramatically.  Since March 2006, the average balance per account has grown by about 10% to nearly $2,200 in March 2007.

•      The percentage of portfolios that grew more than the rate of inflation during the previous 12 months increased dramatically - from 51% in March 2006 to 70% in March 2007 – the highest rate in recent memory

•      Total card assets for portfolios over $1 million increased from $22.4 billion in March 2006 to  25.3% in March 2007, a 12.5% increase.

•      Total card assets for portfolios over $1 million increased as a percentage of total assets, increasing from 4.06% in March 2006 to 4.35% in March of 2007.

•      A preliminary assessment of the data indicates that approximately 17 credit unions with credit card portfolios larger than $1 million sold their portfolios during the first quarter of 2007, with a combined dollar volume of roughly $110 million. These numbers are similar to sales activity in the first quarter of 2006.

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 (2.78% between March 2006 and March 2007).

About AssetExchange
AssetExchange is the credit union community’s leading credit card advisory and brokerage firm.  In addition to providing performance assessments and representation in portfolio sales, we help our clients compare and negotiate card processing contracts and evaluate outsourced card management opportunities.  Our services enable our clients to make sound financial and strategic decisions about the future of their credit card programs.  For additional information, please visit www.AssetExchange.com or call (877) 220-0001.