BOSTON – Elan Financial Services has purchased the credit card portfolios of the $42 million University Credit Union, headquartered in Boston, and the $291 million Freedom Credit Union headquartered in Springfield, announced Kessler Financial, the firm which brokered the sale. According to NCUA records, the purchase brings Elan a $4.7 million portfolio with just over 1,600 accounts from University and a $4.6 million portfolio with 3,400 accounts from Freedom. Both credit unions will have Elan, which is a subsidiary of U.S. Bank, continue to issue its cards in an agent relationship, Kessler said.
© 2025 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.
