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Elan and Sharonview FCU Partnership Featured on "Leaders in Lending" Podcast

May 31, 2022

Sharonview Federal Credit Union’s David Brand recently joined host Jeff Keltner on the podcast “Leaders in Lending” to discuss initiatives the credit union has taken to meet the digital moment, prepare for the future, and the importance of partnerships.

About eighteen months ago we sold our credit card portfolio to Elan, and about a year ago they began to issue on our behalf as well. It's a white label program. The credit card says Sharonview, but we're not issuing it, we're not servicing it. It's been a great partnership because they were able to help us step up with many new cards that we weren't able to bring to market for years, probably, if we tried to do it ourselves,” said David Brand, Senior Vice President of Lending Operations at Sharonview Federal Credit Union.

Brand added, “For example, we just launched four business credit cards with them — wow, it was turn-key. They have a much better controls around fraud [and] I think they're offering better protections for our card holders as well. But basically, this is an organization, and this is all they do and they're servicing over thousand institutions. That's their area of expertise. They have the economies of scale behind it, they have the muscle, the marketing muscle, and so forth. So, we said, ‘Well, we'll let them do that on our behalf,’ and it's worked out quite well, and we also receive a share of the revenue and income from the card program.”

Listen to the full episode here or download Leaders in Lending Episode 55 wherever you listen to podcasts. Fast-forward to 00:18:56 to hear from David Brand about Sharonview’s experience as an Elan Credit Card partner.

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