ARLINGTON, Va. – Even though Asset Exchange, the leading independent broker of credit union credit card portfolios, reported that 13 CUs sold their credit card portfolios, worth $97.5 million, in the first quarter of 2006, overall the CU industry continued to show favorable growth from their card portfolios.
Asset Exchange draws its statistics from NCUA data and statistics on inflation from the U.S. Department of Labor Statistics.
In year over year statistics, total card assets for credit union credit card portfolios over $1 million in outstanding values moved from $20.9 billion at end of the first quarter of 2005 to $22.9 billion in the same period. Adjusting for inflation, this represents an increase of 4.2%, the broker said.
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