Analysis: Members With Cards Decrease

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The percentage of members who held CU-issued credit cards declined slightly during the first quarter of this year, according to analysis by AssetExchange. Using data from NCUA 5300 call reports and based on approximately 2,200 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, the company found:

* About 19% of members held CU credit cards in March 2004, about 0.5% less than in March 2003.

* Credit cards represented about 4% of CU assets in March of 2004. This is about the same as in March of 2003.

* Credit union card portfolios were virtually evenly split between those that grew and those that shrunk for the 12- month period ending March 2004. "This is in contrast to recent years in which a significant majority of portfolios had been shrinking," the company said.

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