The market for credit union credit card portfolios has gonefairly quiet over the last few years, but Elan Financial Serviceshas announced the purchase of another one. This one from the 4000member, $46 million Dayton Firefighters Credit Union, headquarteredin Dayton, Ohio. The CU had a roughly 800 card account portfolioworth almost $2 million in balances as of the end of March of thisyear, according to NCUA records.
|Elan is a subsidiary of U.S. Bancorp.
|Dayton Firefighers will continue to issue the cards through anagent relationship with Elan.
|“We are very impressed with Elan's ability to offer anexceptional credit card program and ongoing support for ouremployees,” said Jennifer Carmack, accounting and operationsmanager for Dayton Firefighters Credit Union. “We look forward tousing Elan's in-branch promotions and incentives, which we thinkwill be key factors in communicating the member value associatedwith these card products.”
|Elan has agent issuing relationships with 375 credit unions.
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