SAN DIEGO—CUSO Financial Services said it has added seven credit unions to its roster of investment programs. The credit unions, varying in size, location, and investment program operational models, have each partnered with CFS to introduce or expand investment and technology offerings for their members, the company said.
The credit unions include 4Front Credit Union in Michigan, Capital Credit Union in North Dakota, Cascade FCU in Washington state; Department of Commerce in Washington, D.C.; Kern FCU in California; People First FCU in Pennsylvania, and Oklahoma’s Credit Union.
“It was clear CFS could support our members with the personal service they deserve and allow us to build easy and convenient mobile technologies as the program develops,” Jeffrey Albert, President/CEO at People First FCU. “We considered two other firms, but were drawn to CFS because of its comprehensive and fully integrated dataVISION platform as well as their ability to work jointly with us to develop new service outreach initiatives. So far, since starting our investment program with them in May, we have already gained tremendous interest from our members with nearly $1 million in the pipeline.”
CFS said it offers a great deal of flexibility in the operational models that are offered to credit unions, including fully-managed programs, dual employee programs, and hybrid programs. In all cases, CFS said it protects program reputations with its strong compliance record and drives advisor successes with its benchmark-driven practice management and training departments.
In addition to PFFCU, the other new clients and program types are:
- 4Front Credit Union – $512 million in assets, 14 branches, and 70,000 members across Michigan, for a startup managed program.
- Capital Credit Union – $459 million in assets, 10 branches, and 30,000 members across Bismarck, Hazen, Fargo, Beulah, and New Salem, ND, for a managed hybrid program.
- Cascade Federal Credit Union – with $300 million in assets, four branches in Kent, Seattle, Everett, and Vancouver, WA, and over 10,000 members, for a startup managed program.
- Department of Commerce Federal Credit Union – with $435 million in assets, three branches, and over 19,000 members in Washington D.C., for a startup managed program.
- Kern Federal Credit Union – with $245 million in assets, two branches in downtown and northwest Bakersfield, CA, and over 20,000 members, for a dual program.
- Oklahoma’s Credit Union – with over $503 million in assets and over 40,000 members in Tulsa, Oklahoma City, Edmond, and Vinita, for a startup managed program.
“We are pleased to welcome all of our new programs to CFS. With more than 20 years of placing investment programs in hundreds of financial institutions across the country, we know the needs of every credit union are unique, and we welcome each and every one,” said Valorie Seyfert, CEO at CFS. “We deliver on our promises of flexibility, service, and award-winning technology for each of our financial institutions to develop a program that successfully serves their needs and the needs of their members. We’re honored so many credit unions continue to choose us as their broker-dealer.”