Kentucky CU Sells Credit Card Portfolio

- LOUISVILLE, Ky. (03/01/01) - Park FCU said it soldits $9 million credit card portfolio to InfiCorp., theAtlanta-based unit of First National Bank of Nebraska that has beenbuying up credit union card portfolios the past two years. Underthe deal with Park FCU, InfiCorp will also market new credit cardproducts to credit union members. InfiCorp will be also responsiblefor new credit card account development and services to members andpotential members of the credit union. InfiCorp is headed by KeithFloen, who was one of the managers of CUNA's credit card operationsbefore they were sold to Equifax four years ago. InfiCorp, whichwas acquired last year by First National Bank, manages more than$400 million in credit card loans for the California CU, Xerox FCUand Teacher's CU, among others.