MINNEAPOLIS, Minn. — Three more credit unions have reported selling their credit card portfolios to Elan Financial Services, a subsidiary of US Bank, Elan has said.
|The agreement to buy the portfolios and enter into agent issuing relationships with the $205 million Connexus Credit Union, headquartered in Wausau, Wisconsin; the $60 million Hermantown Credit Union, headquartered in Hermantown, Minnesota; and the $50 million Family First Credit Union headquartered in Saqinaw, Michigan brings Elan an additional $13 million in assets and 9,200 accounts, Elan said.
|The firm said the purchase means it now manages credit card agent relationships with 172 credit unions nationwide, more than any other card portfolio buyer.
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