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Allegacy Investment Group reaches milestone growth achievement
WINSTON-SALEM, NC (March 30, 2015) — Allegacy Federal Credit Union announced today its investment division, Allegacy Investment Group, available through CUSO Financial Services, has surpassed the $1 billion mark in assets under management (AUM).
“This is a tremendous milestone for Allegacy and its members,” said Steven W. Franke, CFP, Program Manager, Allegacy Investment Group. “We are thankful for the confidence our clients have in our phenomenal team of advisors doing what they love and in the best interest of our members.”
Allegacy Investment Group serves members all over the country and Franke credits the achievement to several factors, including a steady growth rate. Allegacy ended 2008 with nearly $446 million in assets under management. Since then it had an average growth rate of 14%, breaking the $1 billion mark on February 25th. On an asset penetration ratio, the investment group’s AUM is almost 100 percent of the credit union’s assets.
“The success of our investment group is rooted in the vision of our former CEO Ike Keener and the unwavering support of Cathy Pace, our current CEO,” said Franke. “Throughout the years, their focus has always been on building strong, enduring relationships with our members and doing what’s in the best interest of the member.”
Allegacy’s continued growth and success is due to the corporate wide attention to individual needs in every aspect of their financial path. Whether that is a young person just opening a checking account or a seasoned investor, our management and staff are dedicated to providing the financial knowledge and needs of our members, helping them make smart financial choices, in whatever stage of life.”
CFS Financial Advisors at Allegacy Investment Group provide a wide array of services to individuals and businesses: including investment, retirement and retirement income planning, life and long-term care insurance as well as estate planning. For additional information, please call 336-774-3400 or visit online at www.allegacyinvestmentgroup.org
About Allegacy
Allegacy is one of the largest credit unions in North Carolina, with members throughout the world. Founded in 1967 in Winston-Salem, Allegacy has a broad membership base open to anyone in our community. Current members also include the employees, retirees and families of over 600 companies throughout the country. Allegacy offers virtually all personal and business financial services. Allegacy Financial Centers are concentrated in the Triad area with 15 convenient locations and eight high school student-run credit unions in the Winston-Salem/Forsyth County School system. For more information, visit AllegacyFCU.org.
Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Allegacy Federal Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.