Sale Of CU Card PortfoliosContinues
PORTLAND, Ore. - (02/25/05) -- Credit unions continued to shedtheir credit card portfolios last year at increasing rates. Datacompiled by AssetExchange, one of the leading card brokers, showedthat there were 65 portfolio sales among credit unions in 2004, upfrom 55 in 2003, and 42 in 2002. Portfolios sold last year totaled475 million in receivables, up from $410 million the year before,and $272 million in 2002. In addition, credit cards loans as apercentage of total credit union assets shrunk to 4.22% in 2004,down from 4.29% in 2003, and 5.72% in 2000.