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<p>WASHINGTON – National City Bank, which is partnered with Payment Services for Credit Unions (PSCU), is poised to buy more credit card portfolios in the coming weeks, according to Steve Railey, PSCU’s executive director of portfolio management solutions. Railey would not confirm an exact figure but hinted that National City may buy another four in the next four weeks. PSCU recently announced that its banking partner had purchased the fourth PSCU portfolio in five weeks. The $400,000 portfolio belonged to the $25 million Employee Credit Association of Nashville, Tennessee. Employees Credit Association chose to make the sale after reviewing the portfolio through PSCU’s Portfolio Solution process that is designed to help credit unions understand what it will take to make their portfolios perform up to their potential or whether to sell them, according to Railey. As in all such National City sales, PSCU remains the organization providing customer service to the portfolio while National City continues to market what PSCU called “card enhancement services” to the credit union members. Card enhancement services are things like upgrades to platinum or other cards and favorable rates to move balances onto the credit union’s cards from other cards, Railey said. National City Bank has been buying credit union portfolios through an arrangement with PSCU since August 2001 and Employee Credit Association’s is the sixth PSCU member credit union portfolio purchased. Other recent purchases have included the portfolios of the $123 million Nazarene Credit Union in Brea, California, the $56 million Holyoke Credit Union in Holyoke Mass., and the $41 million Cabell County School Employees Credit Union in Huntington, West Va.</p>

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