Partners Federal Credit Union
August 2, 2011 by staff
Partners Federal Credit Union, Pinnacle Federal Credit Union (FCU) has partnered with Elan Financial Services to offer credit card products and services to its nearly 24,000 members. This includes the purchase of the current portfolio of approximately 13 million and the balance sheets and accounts of more than 5,000. Elan will also offer new accounts to members who currently do not have the Pinnacle FCU VISA ® credit card. Elan has over 40 years experience as an agent of a credit card issuer with more than 1,700 members, 400 of which are credit unions.
“Pinnacle is excited to partner with Elan so we can offer members multiple credit card options and superb service. Several vendors were considered, however, Pinnacle had felt Elan credit union experience, history and attention to service they need, “said Harry R. Jacobson, CPA, President / CEO of Pinnacle. “The credit card programs can be costly and time consuming to manage. This new relationship allows Pinnacle to focus on their core competencies, while Elan positioning to provide better services and product card options for members: A relationship Pinnacle will be beneficial to members in the coming years ”
“We are delighted that Pinnacle has selected Elan to help manage their credit card program,” said Jeff Chernivec, senior vice president and director of market development at Elan Financial Services. “With over 40 years of experience working with credit unions, Elan has the experience of working with Pinnacle to provide its members with a robust card program, the best in class services and programs for effective marketing members promote deeper relationships. ”
Pinnacle FCU TRK advisers involved as an advisor for the sale process. “I’ve seen few organizations to develop and articulate the reasons for this decision as clearly and as carefully as Pinnacle,” said Tim Kolk, president of Advisors TRK.
The portfolio sale closed in June 2011 with a conversion of Elan processing systems anticipated in the coming months. The terms of this sale will not be disclosed.
About Advisors TRK
TRK Advisors offers a variety of credit card services program management, including the sale of the portfolio and program development officer of advisory services for more information 603-924-4438 or visit trkadvisors.com.
About Pinnacle Federal Credit Union
Pinnacle Federal Credit Union, founded in 1962, is a full service financial institution offering a wide range of loans and deposits, and convenience services. And with assets of 150 million, Pinnacle serves about 24,000 members in more than 250 corporate sponsors. Pinnacle strives to offer financial products to its members at the lowest possible cost, and to educate members on how best to use products and services. For more information call 800-742-5050 or visit www.pinnaclefcu.com
About Elan Financial Services
Elan Financial Services provides a full range of processing services and payment, including credit card issuing, prepaid card solutions and ATM and debit card processing. Elan Financial Services is a credit card issuer for more than 2,000 major clients in 50 states. It provides transaction processing, terminal driving and monitoring and support services needed for more than 27,000 ATMs nationwide and supports more than 20 million ATM and debit cards. Elan also operates an ATM network without charge MoneyPass. For more information call 800-343-7064 or visit www.cupartnerships.com.
Media Relations Elan
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