I don't have that card, but I do have a card through Elan that's issued by my credit union. Terms may be different depending which card it is, but I know that my card does not graduate. You may just want to call and ask them if the card graduates to unsecured later, but I'd be surprised if it did.
I can't remember how long it took for me to get the actual card, but I want to say it was the standard 7 to 10 business days. It does report as secured on my reports.