PORTLAND, Ore. — Credit union credit card portfolios worth more than $1 million in assets grew by 14% in the year between June 2007 and June 2008, according to analysis performed by Asset Exchange.

The CU card brokerage and consultancy owned by Fidelity National Information Services reported that NCUA data showed that CU card assets grew at about twice the rate of other CU assets over the same period and that the number of cards issued by CUs grew by 3%.

The number of card portfolios which grew faster than the rate of inflation move from 71% in June 2007 to 76% this year and the card assets as a percentage of overall CU assets also continued to increase, moving from 4.49% in the second quarter of 2007 to 4.80% this year.

The brokerage also reported that the pace of CU portfolio sales has also dropped to a crawl. Only five credit unions sold their card portfolios, worth $20 million, in the second quarter of 2008 versus 21 which sold their card portfolios worth $132 million in the second quarter 2007.