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Some Aim To Keep Sales 'In The Family;' 1 Person Urges Caution.(credit unions'...

By Ortiz, Lauralee
Publication: Credit Union Journal
Date: Monday, June 10 2002

Credit union league service corporations in Michigan and Illinois may soon become partners in an attempt to purchase some of the CU credit card portfolios being sold to banks and other bank-owned companies.

The Illinois Credit Union League's plan is to purchase credit card programs and provide the servicing and collections, as well as assuming the credit risk. It has already bid on two card portfolios and has two more in the pipeline.

The decision comes as an increasing number of credit unions are selling their portfolios (see related story, left). In respon

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