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The charts and graphs below bring home both how far credit cards have moved from being almost an orphan asset in the credit union industry toward having a place far closer to the head of the table.

“CU Total Assets” and “CU Credit Card Outstandings” illustrate how well credit cards have performed for credit unions. Even as credit union assets have performed strongly since 2006, growing at a rate of 10%, credit card portfolio balances have grown at 12%. This should put to rest some credit union’s formal approach to their credit card portfolios, which a number of credit union executives described as “benign neglect”

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Peter Westerman


Credit Union Times

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