Elan Seeks to Broaden Conversation Beyond Cards

WASHINGTON — In an effort to reach out to credit unions on a ground other than cards, Elan Financial Services, the card acquisition and processing arm of U.S. Bank, is preparing a white paper that it said will help credit unions better understand their options for serving the small business needs of their members.

Credit Unions and Small Business: A CEO and Management Guide will be available on April 1, Elan said. Lori Syverson, assistant vice president with Elan, stressed that the report goes beyond Elan’s small business card offerings and touches on deposit and lending strategies, the importance of knowing your market and analyzing product suitability. Syverson said that the paper did not make any specific recommendations for products, but sought to lay out for credit union managers what their different strategic options might be in meeting their members’ small business needs.