Card Portfolio Sell-Off Continues In First Quarter

PETERBOROUGH, N.H. - Seventeen credit unions with credit card portfolios of over $1 million in outstanding balances sold their portfolios in the first quarter of this year, according to analysis by Brookwood Capital.

Total balances sold during the quarter were approximately $108 million. On average, the size of the portfolios sold in the first quarter was $6.4 million. Credit card portfolio sales over the past several years have been as follows:

Since 2002, 13% of all CU credit card issuers with credit card portfolios of over $1 million in receivables have outsourced their card programs to third-party partners, the company said.

These trends continue to indicate that credit unions of all sizes are continuing to take a strategic look at their credit card product lines," the company said.

For info: www.brookwoodcapital.net.