Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Products
Credit card penetration flat says broker
PORTLAND, Ore. (6/2/09)--The growth rate for credit card portfolios has slowed, and credit card penetration remains flat, according to a credit union credit card portfolio advisory and brokerage firm. Card penetration was 18% in the first quarter of this year, according to AssetExchange. Outstanding portfolio balances grew 5.9% between March 2008 and March 2009 to $31 billion, down from 16% growth in the first quarter of 2008. Card accounts grew 2.4% during the same period to 12.2 million, down from 21% growth during the first quarter of 2008, the firm said. Two large card portfolios also were sold in the first quarter of this year--Kern Schools FCU, Bakersfield, Calif., at $101 million, and American First, La Habra, Calif., at $53 million. Five other credit unions sold smaller portfolios, bringing total sales to $190 million. AssetExchange’s data was based on National Credit Union Administration call report data for credit card portfolios larger than $1 million.
Other Resources

RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
1 Day ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
5 hours ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
6 hours ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
7 hours ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
7 hours ago