Desert Schools FCU Switches Cards Servicers from MBNA to Elan

PHOENIX – Desert Schools FCU said yesterday it has terminated its credit card servicing agreement with Bank of America’s MBNA and moved the portfolio to U.S. Bancorp’s Elan Financial Services. A credit union official attributed to change to BofA’s change of the MBNA name to FIA Card Services, but also to the fact that Elan offered the $2.7 billion credit union a better package of services. The portfolio includes more than $100 million if receivables.