PORTLAND , Ore. , August 20, 2004 – AssetExchange, the leading independent credit card portfolio brokerage firm, has compiled data about credit union credit card portfolio trends through the second 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 17.9% of credit union members held credit union credit cards in June 2004.
• This represents a decline from 19.1% in March 2004.

Credit Cards as a Percentage of CU Assets:

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

Additional analysis of NCUA data revealed that approximately 11 credit unions sold their credit card portfolios during the second quarter of 2004, representing more than $110 million in volume. Transactions brokered by AssetExchange accounted for more than half of this volume.

About AssetExchange
AssetExchange is the leading independent credit card brokerage firm for financial institutions. Services include credit card portfolio brokerage, performance assessments, market valuations, and best practices consulting. The AssetExchange brokerage process includes bids from all interested portfolio buyers, which increases competition for portfolios and ensures optimal pricing and partnership opportunities for portfolio sellers. For additional information, please visit www.AssetExchange.com or call (503) 220-0007.