PORTLAND , Ore. , July 1, 2004 – AssetExchange, the leading independent credit card portfolio brokerage firm, has brokered the sale of three credit card portfolios:

• Southbridge Credit Union, based in Southbridge, MA, sold its $1.4 million credit card portfolio to InfiCorp.
• Mutual Savings Credit Union, based in Birmingham, AL, sold its $2.3 million credit card portfolio to InfiCorp.
• OCHA Credit Union, based in Orange, CA, sold its $700,000 credit card portfolio to TNB Card Services.

For each of these credit unions, AssetExchange analyzed card portfolio performance, conducted “keep versus sell” analyses, and solicited partnership offers from every interested buyer in the market. Including the $52 million Texans Credit Card portfolio sale announced previously, AssetExchange has brokered 4 portfolios to 3 different buyers in the past month.

“Our credit card program was eroding and we did not have any measures in place to turn its performance around,” said Kathleen Krommer, Executive Lending Officer of Southbridge Credit Union. “AssetExchange worked with us to analyze our options and brought us offers from several potential partners. Even though they were based on the other side of the country, AssetExchange was always accessible and available to answer our questions. The insight and information they provided to us made it easy for our executive team to communicate with and gain consensus from our Board.”

“Credit card portfolio buyers are eager to meet credit unions’ needs,” said AssetExchange CEO, William Koo. “For example, Southbridge was not looking for the large capital infusion that a high premium entails, so we assisted them in negotiating a smaller premium in exchange for higher ongoing revenue sharing. We are pleased to have assisted each of these credit unions with their credit card strategies.”