ARLINGTON, Va. — Credit unions around the nation are generallyseeing significantly improved credit card portfolio performance,according to an analysis of second quarter card portfolioactivity.

|

An analysis performed by Asset Exchange, a leading credit unioncard portfolio consultant and brokerage that is subsidiary ofFidelity National Information Services, found that the roughly2,100 credit union card portfolios that were worth more than $1million saw their average account balance increase by 10% from Juneof last year, to roughly $2,300.

|

Total credit union card assets also increased, moving up by12.8% to $26.4 million versus $23.4 million at the end of June lastyear. Credit cards also moved up as a percentage of overall CUassets.

|

But sales also continued. According to NCUA data, as analyzed byAsset Exchange and Brookwood Capital, another leading CU cardbrokerage, sales continued at roughly last year's pace with between18 (according to Brookwood) and 21 (according to AE) moving offcredit union books in the second quarter.

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

  • 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.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.