Thank you for sharing!

Your article was successfully shared with the contacts you provided.

THOUSAND OAKS, Calif. – A credit union card portfolio characterized as “small but high quality” brought a 26% premium over book value, according to R.K. Hammer, a noted card portfolio evaluator. According to Hammer, six card portfolios worth over $15 million sold in the second quarter of 2003, on top of the 18 over $15 million which sold in the first quarter. That brings the total for 2003 to 26 portfolios over $15 million, for a total of $5.46 billion in assets sold, Hammer said. He also reported sales of 26 portfolios of less than $15 million, with 21 of those believed to come from credit unions. Data on portfolio sales is traditionally difficult to verify, but Keith Floen, a managing director with InfiCorp, a leading purchaser of credit union card portfolios, reported that this year’s purchases have been much the same as last years, with the bank buying seven portfolios as of the middle of the year. This year’s value of the portfolios has been a bit higher, he reported.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.