MINNEAPOLIS — Elan Financial Services, a subsidiary of U.S.Bank, has announced the purchase of three more credit union cardportfolios and the launch of another. The buys bring the cardissuer $40 million in additional balances, the firm said.
“Financial institutions are facing tough competition at everyturn,” said Jeff Chernivec, senior vice president and marketdirector for sales and business development at Elan. “A partnershipwith Elan allows the financial institution to offer competitivecredit card products, eliminate liability and continue to offer ahigh level of member service while generating additionalrevenue.”
The new clients operate in Alabama, California, Idaho, Illinois,Iowa, Michigan, Nebraska, Nevada, New York, Ohio, South Carolina,Texas, West Virginia, and Wisconsin, the firm said in preparedannouncement which did not give the names of the credit unions.
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.
Already have an account? Sign In Now
© 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.
