PORTLAND , Ore., August 05, 2003 – AssetExchange, the credit union industry’s leading credit card portfolio brokerage firm, facilitated a partnership between Lapeer County Community CU ( Lapeer, MI) and TNB Card Services ( Dallas, TX). The partnership includes an undisclosed premium on the sale of Lapeer County’s credit card assets, ongoing revenue-sharing, and co-branded credit cards that will be marketed under the Lapeer County brand to current and potential members. AssetExchange conducted the portfolio analysis, market valuation, and competitive bidding process on behalf of Lapeer County Community Credit Union.

“Our credit union came to the realization that we could not offer competitive credit card products profitably,” said Lapeer County Community Credit Union CEO, Troy Garvin. “We chose to work with AssetExchange for three reasons: They did not pressure us to sell, they brought us offers from every single buyer in the market, and they made sure we found the best price, terms, and partner for our credit union. Plus, they were able to facilitate the transaction in only two months. TNB, with their deep roots in the credit union community and their excellent card products, proved to be the best fit for our credit union.”

“We are very pleased to welcome Lapeer County Community Credit Union to our family of clients,” said Rollie Penn, executive vice president of TNB Card Services. “We remain as committed to the credit union community as we have been for almost thirty years. AssetExchange provided us an excellent opportunity to prove that we can compete with the largest card issuers while keeping credit card assets within the credit union movement.”

“This transaction marks an increase in the competition for credit union credit card portfolios,” said William C. Koo, CEO of AssetExchange. “With TNB emerging as a competitive purchaser of credit card portfolios, credit unions now have even more partnership opportunities than before. AssetExchange is here to provide credit unions with multiple partnership offers to ensure they get the best offers, choices, and terms available.”

About Lapeer County Community Credit Union
Originally chartered in 1955, Lapeer County Community Credit Union provides financial products and services to those who live or work in Michigan’s Lapeer County. Lapeer County Community Credit Union holds more than $62 million in assets.

About TNB Card Services
TNB Card Services, located in Dallas, provides full-service credit and debit card processing, as well as, an agent issuing solution. TNB is owned and directed by credit unions. For more information about TNB, go to www.tnbcard.com or contact Glen Lee at 972-391-6284.

About AssetExchange
AssetExchange is a credit card consulting and brokerage firm for credit unions, banks and other 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.