Many credit unions don't understand that when they hire a brokerage firm to evaluate and market their credit card portfolios, that it is the buyers of the portfolios that pick up the fee, usually a percentage of the overall sale price. But what do the firms that buy the portfolios get out of it? Keith Floen, Managing Director for InfiCorp, the Atlanta-based firm that purchases a significant number of credit union card portfolios each year, said that his firm uses brokers in order to save money and time on finding business. "From our point of view it saves us the time and money it would take to establish and train a sales force, as well as market ourselves as portfolio buyers," he said. He also explained that brokers getting a feel for the types of card portfolios that InfiCorp likes helped ensure that his firm was able to find the business it might miss otherwise.
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