65 CUs Sold Portfolios In 2005

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Sixty five credit unions with credit card portfolios of $1 million or more sold those portfolios during 2005, according to analysis by Brookwood Capital, which consults on such sales. Total balances sold during the year were approximately $481 million. The sale of 65 portfolios nearly eclipsed the 67 sold during 2004, although the actual total balances involved in 2005 were $22 million above the 2004 mark. On average, the size of the portfolios sold in 2005 was $7.4 million, also an all-time high, Brookwood said.

While these portfolios are nearly always profitable, many smaller issuers are trying to find ways to issue a stronger product set while lowering their institutional risk profile and increasing the bottom line," the company said.

For info: www.brookwoodcapital.net.

PORTFOLIO SALES 2002-05

Year Portfolios Total Average

Sold Outstandings Size

2002 41 $285M $7.0M

2003 59 $419M $7.1M

2004 67 $459M $6.9M

2005 65 $481M $7.4M (c) 2006 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

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