PORTLAND , Ore. , June 16, 2010 –AssetExchange, a leading credit union credit card portfolio advisory and brokerage firm, has analyzed first quarter 2010 credit union credit card portfolio trends.

For the roughly 2,150 credit unions with credit card portfolios of $1 million and larger:

• Outstanding balances grew at an annual rate of 8.5% between March 2009 and March 2010 to $33 billion, continuing the trend of mid-single digit growth. Total assets at these credit unions grew at an annual rate of 7.6% over the same period.
  
  
• Credit card accounts grew at a 3% annual rate over the same period to 12.5 million.
  
  
• Cards as a percentage of total assets increased slightly to 4.4% in the first quarter of 2010, up from 4.3% in the first quarter of 2009, as credit card balances grew faster than total credit union assets.
  
  
• Credit card penetration continues to trend near 17%.
  
  
• There were no sales of credit union credit card portfolios larger than $1 million in the first quarter of 2010.
  

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.