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PASADENA, Calif. — After what seemed like a very long and difficult time, the $3.7 billion Wescom Credit Union has brought a new credit union-owned card portfolio purchaser to the market and made a splash when it did so, landing one of the biggest CU card portfolios to have sold in a long time.

Dubbed CU Card Association, the new organization is a joint effort between Wescom and PSCU Financial Services, a leading card servicing CUSO. CU Card Association’s creation represents a long sought victory in a campaign that saw Wescom first seek to purchase a bank owned by an industrial loan corporation only to renounce that effort when it stalled due to regulatory and political obstacles.

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