TMG Financial Services reports growing interest in Collateralized Advance Program.
Says despite labor, compliance and risk, credit unions that sold portfolios should get back into the business of issuing, white paper says.
Iowa CUSO says more than 60,000 accounts and $125 million in balances now on the books.
Somewhat counterintuitively, CU card industry experts say that two conflicting trends in the economy make 2012 a good year for a credit union that had foregone credit card issuing in the past to get back into the business.
Bank of America made official last week what many anticipated when a spokesperson acknowledged that it will no longer issue credit cards in agent relationships with credit unions and smaller banks.
The bank has stopped issuing credit cards with between roughly 40 and 50 credit unions.
Credit unions which currently issue cards with Bank of America have also been told that their contracts will not be renewed after they expire.