Credit unions with credit card portfolios worth more than $1 million saw their balances grow at the slowest rate in the last five years, according to NCUA data.
The market for credit union credit card portfolios has slowed down.
A $600 million credit union that has been with FIA Card Services ended an agent-issuing card relationship with that organization and is launching an agent-issuing program with Elan Financial Services.
Many credit unions that sold their credit card portfolios in 2006 and 2007 and entered into agent issuing agreements should start actively considering those agreements in 2011 and 12, according to CU card consultants.
Credit union loan growth may be stagnating, but CU credit card portfolios continued to grow in second-quarter 2010, according to a card analytical firm.
Overall credit union loan growth may be stagnating, but CU credit card portfolios continued to grow in the second quarter of 2010, according to a leading card analytical firm.
Credit union card portfolios continued the improved performance they have demonstrated in the last several years in 2009, and the card portfolio sales continued their slow pace as the volumes of card assets that changed hands rose a bit.