So if you’ve ever looked at the Does This Financial Institution Offer Credit Cards? page, you’ve probably noticed that a lot of banks and credit unions offer what is called “Elan Financial’s credit card portfolio.” To make a long story short, smaller financial institutions sometimes outsource their credit card services to Elan Financial Services, who provides the product suite and customer support. These “credit card portfolios,” so to speak, always contain the same products, which can be viewed in the links below.



Example – Deerwood Bank (MN)

So why is this important? Because your local bank or credit union could offer these products, which are comparable to the credit cards offered by U.S. Bank. However, unlike U.S. Bank, smaller banks and credit unions have local, physical branches and sometimes offer significantly above-average interest rates. For example, Chevron Federal Credit Union’s MySavings Youth Account (7.00% APY on up to $1,000, only for account holders 21 years old or younger).