ARLINGTON, Va. — Credit unions improved the overall performance of their card portfolios in 2007, even as the credit union card market continued to diversify and fragment.
Much of the credit for the improved performance, analysts said, rested with the increased attention credit unions were giving to their card portfolios, programs that in many cases had started off well but which some CUs had begun to ignore. By the end of the third quarter, according to NCUA data, most of credit union card numbers were following an upward trend.
NCUA's third-quarter CU performance data indicated that 2,100 credit unions had credit card portfolios worth more than $1 million, according to an analysis of data reported by Asset Exchange, a card consulting and brokerage firm owned by Fidelity National Information Services.
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