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Elan Takes Another

By Staff Writer

BOSTON - Elan Financial Services has purchased the credit card portfolio of the $55 million Bellco FCU, headquartered in Wyomissing, Pennsylvania, announced Kessler Financial, the firm which brokered the sale. The purchase brings Elan a $1.5 million portfolio with just over 1,000 accounts, according to NCUA records as of September...

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April 12, 2005

PSCU Financial Gives Out Millions of Points

ST. PETERSBURG, Fla. - PSCU Financial Services, the card processing cooperative that serves over 500 credit unions which process their card transactions with First Data Corp., has released millions of rewards points to winners of its second annual sweepstakes. CURewards Sweepstakes is designed to boost activity for credit unions' credit...

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April 12, 2005

Wescom CU Found Strong Success in 2004 Rewarding Card Accounts

PASADENA, Calif. - The $3 billion Wescom Credit Union had a problem in the middle of 2004. Its credit card program, 38,000 cards and $84 million strong in March of the year, had begun to slow sharply. "We had been in the habit of offering card promotions at the end...

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April 12, 2005

Citi, mtvU Set Sights on Young Adult Market

NEW YORK - Credit unions beware -apparently the Citi never sleeps when it comes to targeting young adults. Citi cards has teamed up with mtvU to co-launch the Citi mtvU Platinum Select Visa Card for College Students. The partnership is a joint program where cardholders can save points for exclusive...

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April 12, 2005

Despite Competition, CO-OP Network Keeps On Growing

ARLINGTON, Va. - Despite the wide variety of local and national ATM network options available CO-OP Network, the credit union owned ATM and EFT network, remains the single largest and most recognized credit union ATM brand. After the purchase of the PULSE EFT Association by Discover, CO-OP Network became the...

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April 12, 2005

Tower Report Urges Card Issuers to Seek Out Small Business

NEEDHAM, Mass. - Credit union credit card issuers can benefit by offering small business cards to their members who have small or even micro businesses, according to a report from the Tower Group, a consulting firm on card practices. Small Business Credit Cards in the US: High-Growth Segment or Limited...

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April 12, 2005

One Credit Union Discovers that Portfolio Evaluation Doesn't Always Mean Sale

ARLINGTON, Va. - The current market for credit union credit card portfolios is so competitive and premiums for those portfolios rumored to be so high that many institutions presume that if they have their portfolio evaluated for marketability they will almost surely sell it. Well, not necessarily. Sometimes an evaluation...

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April 12, 2005

First Step: Uncover Existing Data

As is the case with many credit unions, USA FCU didn't really have an adequate grip on the flood of information about its card transactions that regularly flowed from its third-party card processing firm, whom Cunningham would not identify. One of the first things Asset Exchange did was to analyze...

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Top News Stories

Elan Takes Another

MasterCard Applies For Greater Role in Corporate Taxes

Discover Spin-off Will Not Affect Pulse

Recommended Just For You

News Stories

PSCU Financial Gives Out Millions of Points

Wescom CU Found Strong Success in 2004 Rewarding Card Accounts

Citi, mtvU Set Sights on Young Adult Market

Despite Competition, CO-OP Network Keeps On Growing

Tower Report Urges Card Issuers to Seek Out Small Business

One Credit Union Discovers that Portfolio Evaluation Doesn't Always Mean Sale

First Step: Uncover Existing Data