BOSTON – The $63 million SECNY credit union, headquartered in Syracuse, New York, has sold its credit card portfolio to Elan Financial Services, a subsidiary of U.S. Bank according to Kessler Financial, the firm which brokered the sale. The purchase brings Elan a $3.9 million portfolio with over 2,700 accounts, according to NCUA records as of September 2004. SECNY will have Elan continue to issue its cards in an agent relationship, Kessler said.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.