The $3.2 billion Wescom Credit Union has purchased credit card portfolios from eight credit unions since launching the service in late 2006.
Brad Wylie, president of the Credit Union Card Association, a division of Wescom, said the Pasadena, Calif.-based credit union picked up card accounts worth roughly $65 million before cinching the purse strings on card portfolio buying in September 2008.
"We felt we needed to take a breather to let the economy stabilize and for things to shake out a bit," Wylie said, adding that the credit union's card staff was busy making sure the credit union's card portfolio would be compliant with the latest round of card regulations.
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