COLUMBUS, Ohio—Corporate One FCU said it has enabled its members to access Primary Financial Company’s new SimpliCD online-trading platform.
“This platform will enable easy, convenient access to trading and investment research at the credit union level,” said Corporate One, adding it is the first corporate to enable its members to access this online platform through SSO (single sign-on).
Founded by Corporate One and later sold to the credit union network, Primary Financial is a CUSO now owned jointly by 11 corporate credit unions. Primary Financial manages SimpliCD, a turnkey certificate of deposit program that is now used by the majority of credit unions in the country as an investment solution and/or as an avenue to generate liquidity through issuing CDs, according to Corporate One.
“Corporate One and Primary Financial have a strong history of making great things happen for credit unions,” said Lee Butke, Corporate One president and CEO. “We are happy to continue this history of innovation by bringing SimpliCD online for our credit union members, and, ultimately, for credit unions across the country. It is a significant enhancement that enables credit unions to have greater access over their SimpliCD investing and/or issuing for optimized transparency and use.”
“SimpliCD is one of the most trusted and widely used investment and issuing options by credit unions nationwide, so we took the decision to enhance the solution seriously,” said Mark Solomon, president and CEO of Primary Financial. “Knowing we have a solution that works for credit unions, we asked ourselves what we could do to make it better. The answer was clear: Take it online. It’s where people are; it’s what they expect. And, once we delivered this enhanced solution and made it available to our corporate credit union owners, Corporate One jumped at the chance to enable its members to have access.”
According to Corporate One, benefits of the new online platform include a streamlined trading process and easy access to customized data based on each credit union’s investment portfolio. Additional features include the ability to see upcoming maturities in one centralized place, make trades with one click, and receive real-time availability of trade confirmations.