Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Credit card portfolio sellers disappointed in partners
PORTLAND, Ore. (6/11/09)--Results of a 2009 survey of credit union executives who sold their credit card portfolios are similar to past years’ results, AssetExchange said. The survey results indicated that sellers generally do not regret selling their portfolios, but are not particularly happy with their buyers.
Click to view larger image Click for larger view
“We were interested to see if the state of the economy would alter executives’ views regarding their card portfolio sale,” said Frank Selker, AssetExchange president. “We found little change.” This is the third year AssetExchange--a credit union credit card portfolio advisory and brokerage firm--has conducted the survey. Respondents expressed dissatisfaction regarding products, pricing and service. Only 46% said they would recommend their buyers. Other highlights:
* About half of the respondents said they consider changing their arrangement when their contacts expire; * Nineteen percent are considering restarting their own portfolios, while 48% are considering evaluating new partners; * Growth among buyers has slowed--20% experienced a decrease and 24% remained the same; and * A majority said they continue to feel their partner products are superior to their own-- but that majority dropped 65% from 76% in previous surveys.


RSS print
News Now LiveWire
.@FinancialCmte markup of Reg D Study Act set for Tuesday. CUNA will submit support letter. http://t.co/cDWkZ0Q0x1
3 hours ago
The 54th Western CUNA Management School graduated 89 students on July 25.
3 hours ago
.@CUNA Bank Secrecy Act training to reach 38 Mich. state examiners #NewsNow http://t.co/7HDPgwih8G
5 hours ago
St. Louis treasurer taps #creditunion to serve unbanked #NewsNow http://t.co/lWtcezJOej
23 hours ago
.@CUNAMutualGroup has committed $35K to @trustdotcoop over the next year to suppor the future of #creditunions.
7 25 ago