U.S. Bancorp Acquires Two More CUPortfolios

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MINNEAPOLIS - (05/09/06) – U.S. Bancorp said its ElanFinancial Services, a growing player in the credit union cardsmarket, acquired two more credit union portfolios. Elan will managethe two portfolios, Jacksonville, Fla.-based First Florida CU andits $6.4 million in receivables and 5,400 accounts; and $1.1million in receivables and 550 accounts of Wymar FCU, in Geismar,La., under agent contracts. Elan has acquired more than 70 creditunion portfolios over the past two years.

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