Orchard Federal Savings Bank bought First Union Corp.'s secured credit card portfolio, which it had been managing and servicing since 1996.

First Union said the portfolio has $20 million of receivables.

Orchard Federal Savings, a subprime lender and a subsidiary of Renaissance Holdings Inc., will continue to issue secured cards on behalf of First Union, said Alison Swann-Ingram, an Orchard spokeswoman.

Orchard also issues subprime cards for Household International Inc. and Bally's Total Fitness, which offers a MasterCard card to its members.

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