U.S. Bancorp Advances In CU CardsMarket
HELENA, Mont. - (03/24/06) -- Russell Country CU said it hasagreed to sell its credit cards portfolio to Elan FinancialServices unit. Under the deal, Elan will serve as agent and managethe cards program which will retain the credit union's brand. Theportfolio consists of 1,000 accounts and $1.9 million inreceivables. Elan Financial, a unit of U.S. Bancorp, has acquiredmore than 40 credit union portfolios over the past year.