The lists of credit unions that had previously sold their card portfolios to banks only to come back into issuing again grew last week as the 60,000-member $1 billion Eli Lilly Federal Credit Union converted a card portfolio that it had previously sold to a bank back to its own systems again.
The Indianapolis-based credit union had sold its 6,800-card $20 million portfolio to MBNA in 2002.
"We sold it at the time because we didn't believe we had the expertise we needed for card issuing," explained Rich Jones, senior vice president with the credit union. "But in the year's since we decided we wanted to buy it back and offer the member service we believe our brand needs to have."
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 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.
