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BOSTON — The $125 million Taunton Federal Credit Union, headquartered in Taunton, Mass., has sold its card portfolio to Elan Financial Services, a subsidiary of US Bank. The purchase brings Elan a portfolio of 2,500 accounts worth roughly $3.4 million.

“We had a couple of choices in front of us,” says John Damaso, CEO, Taunton Federal Credit Union. “We could upgrade our credit card program on our own, or we could sell our portfolio outright. Neither option was appealing on its own. Once we realized that a partnership with Elan would provide the best of both worlds, a world class program to our members in our name and an attractive premium for our portfolio, it was an easy decision for us to choose Elan.”

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