Elan Picks Up Two More CUs

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MINNEAPOLIS - (06/22/06) – Elan Financial Servicesreported Wednesday it has acquired credit card portfolios from twomore credit unions, Boston’s St. Jean’s CU and GulfCoast Community FCU, Gulfport, Miss. The two credit unions hold atotal of $10 million in receivables and 4,500 accounts. Under thedeal, Elan, a unit of U.S. Bancorp, will continue to operate thecards programs for the two credit unions and market it to membersunder their names. Elan has become the leading acquirer of creditunion cards programs and has purchased more than 75 over the pastyear.

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