CUSO Financial Services Adds New Investment Program Clients due to Broad Array of Products and Services

Credit unions across the country turn to broker dealer for flexibility and premium product options for members

SAN DIEGO, Mar. 1, 2012 – CUSO Financial Services, L.P. (CFS), a full-service broker dealer and SEC Registered Investment Adviser providing customized investment and insurance solutions to credit unions, added 30 new credit union investment programs to their roster of clients last year.  Among the 30 new programs, six were implemented just last month. These six investment programs are located throughout the United States, collectively serve more than 124,000 members, and have combined assets totaling more than $1 billion.

Maintaining its reputation for flexible investment programs, CFS meets the needs of all its credit unions with varied program offerings, full back office support, and clearing services for institutions that serve as their own broker dealer but need a clearing firm. CFS provides two primary program offerings to credit unions and several hybrid models. The primary models are “managed programs” wherein program managers and investment advisors are employed and managed by CFS; or “dual employee programs” in which both managers and advisors are employed by the credit unions but are licensed, registered and supervised for compliance through CFS.  CFS also offers hybrids for programs that incorporate components of both and are often more attractive to credit unions that may want to migrate from dual to managed, or vice versa, or need to temporarily have CFS provide management services.  The ability to change from one model to another with minimal financial impact and disruptions is key to maintaining strong support from the credit union and consistent performance. In any option, advisors, program managers and credit union executives have full access to a broad range of program development expertise and resources.

The new managed program credit unions include:

  • TBA Credit Union in Traverse City, Michigan
  • Springfield Teachers Credit Union (STCU) in Springfield, Massachusetts

The new dual employee program credit unions include:

  • Erie General Electric FCU in Erie, Pennsylvania
  • Mid American Credit Union in Wichita, Kansas
  • Texas Bay Area Credit Union in Houston, Texas
  • Ohio University Credit Union in Athens, Ohio

As their members require access to more varied and sophisticated investment and insurance products such as life/ LTC insurance and managed accounts, credit unions are turning to CFS to meet their needs. In contrast to the more narrow or proprietary product options offered by some broker dealers, CFS ensures a broad array of non-proprietary products and services including multiple selections in insurance and annuities, stock and bond investments, small business and advisory products.

“Our network of clients has grown to almost 200 financial institutions around the country, and I think it’s due to our commitment to help these institutions grow their investment programs by providing a wealth of product and service choices,” said Valorie Seyfert, CFS president and CEO. “Last year, we helped nearly 50 percent of our programs surpass their own previous revenue records. It is my privilege to welcome these new credit unions to our network and challenge them to reach for record-breaking levels as well. It has been a pleasure getting to know each group, and I look forward to adding their expertise to our client base.”

Credit unions interested in learning more about CFS investment programs can call 1-800-686-4724.

About CUSO Financial Services, L.P.
Established in 1997, CUSO Financial Services, L.P. (Member FINRA/SIPC) is headquartered in San Diego and has more than 135 credit union users, including 25 of the top 100 credit unions in the country.  With branch offices located nationwide, and more than 350 licensed representatives, CFS is a full-service broker/dealer and SEC Registered Investment Adviser offering customized investment and insurance solutions to credit unions. For more information, call 858-530-4400 or visit

Lexy Haynes
Clearpoint Agency, Inc.

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