PORTLAND , Ore. , June 1, 2004 – AssetExchange, the leading independent credit card portfolio brokerage firm, has compiled data about credit union credit card portfolio trends through the first quarter of 2004. Findings are based on NCUA 5300 call reports.

The following trends are based on data from approximately 2200 credit unions with card portfolios that were greater than $1 million in December 2000, that have not sold their portfolios, and have not merged or changed charter numbers since December 2000:

Penetration of Credit Cards Among CU Members:

• About 19% of credit union members held credit union credit cards in March 2004.
• This is about 0.5% less than in March 2003.

Credit Cards as a Percentage of CU Assets:

• Credit cards represented about 4% of credit union assets in March of 2004.
• This is about the same as in March of 2003.

Fraction of CU Card Portfolios that Grew:

• Credit union card portfolios were virtually evenly split between those that grew and those that shrunk for the 12 month period ending March 2004.
• This is in contrast to recent years in which a significant majority of portfolios had been shrinking.

About AssetExchange
AssetExchange is a leading credit card portfolio brokerage firm for financial institutions. Services include credit card portfolio brokerage, free performance assessments and market valuations, and best practices consulting. We bring multiple, competitive offers from all interested portfolio buyers so that credit unions have the best prices, terms and partnership options to consider when outsourcing their credit card products. For additional information, please visit www.AssetExchange.com or call (503) 220-0007.