Ent Federal Credit Union began a new partnership this month with Élan Financial Services, a division of U.S. Bank, to issue and manage credit card accounts for its nearly 160,000 members.
The Colorado Springs-based financial institution has been in a similar partnership since 2001 with MBNA Corp., which was acquired Jan. 1 by Bank of America. MBNA started the partnership with Ent after buying its $36 million credit card portfolio in July 2001. Ent members with MBNA cards can still continue to use their cards; Élan will issue cards to those who apply for new accounts.
Élan offered Ent a wider variety of cards that will give its members more choice on types of cards such as platinum cards, cards for college students and cards for small businesses as well as giving members more choices in the rewards they earn, said Jim Moore, Ent's senior vice president. For more information, go to www.ent.com