U.S. Bancorp Acquires Two More CU Portfolios

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U.S. Bancorp said its Elan Financial Services, a growing player in the credit union cards market, acquired two more credit union portfolios.

Elan will manage the two portfolios, Jacksonville, Fla.-based First Florida CU and its $6.4 million in receivables and 5,400 accounts; and $1.1 million in receivables and 550 accounts of Wymar FCU, in Geismar, La., under agent contracts. Elan has acquired more than 70 credit union portfolios over the past two years.

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