BOSTON — Another credit union, this one in Ohio, has sold its credit card portfolio to Elan.
The $77 million Taleris Credit Union sold its 1,400-card portfolio to the US Bank subsidiary, according to the Kessler Group, which brokered the sale. The privately insured CU with headquarters in Cleveland had a portfolio of $2.6 million in outstandings, the firm reported.
"At Taleris, we are dedicated to providing our members with the highest quality products and services," said Robin Thomas, president/CEO, of Taleris Credit Union. "It was becoming clear that we would have to be more actively involved with our credit card program in order to fulfill our mission. Over all others, we realized that Elan's partnership model allowed us to provide the credit card program our members want while liberating our resources to better serve them across the board."
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"We are quite pleased that our new partners at Taleris Credit Union selected Elan," said Dan Roads, first vice president at Elan Financial Services. "Our goal as a behind the scenes partner is to deliver the best credit card solutions to meet the needs of each and every Credit Union. It is so gratifying to see that more and more Credit Unions are choosing to partner with Elan so that the institution and their Member-owners can reap the benefits of the most competitive credit cards available."
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