Commitment to credit unions, members and advanced technologies wins over management
SAN DIEGO (July 11, 2014) -- CUSO Financial Services, L.P. (CFS), a full-service broker dealer and SEC Registered Investment Adviser that provides customized investment and insurance solutions to credit unions, has been chosen by Hawaii State Federal Credit Union (Hawaii State FCU) as its broker dealer to expand its investment program. Credit union management reviewed four third-party marketers before choosing CFS for its strength in the credit union industry and its commitment to aiding the growth of the program as a core offering of the financial institution.
Founded in 1936 and headquartered in Honolulu, Hawaii State FCU is one of the largest credit unions in Hawaii with more than 80,000 members and $1.3 billion in assets. Its investment program, “Hawaii State Investment Services,” will operate under a dual employee model where the financial advisors are employed by the credit union but licensed, registered and supervised by CFS; financial advisors support all eight of its branches on Oahu and Maui. Although Hawaii State FCU had a previous investment program, executives wanted to explore other broker dealer options that would better serve its members and help grow the investment program.
The credit union has recently undergone a complete rebranding with a new logo, tagline and website, as well as an increased emphasis to incorporate technologies that can better serve the needs of members. Management cites CFS’s leading-edge home banking integration capability, which integrates with the credit union’s online banking, as a sophisticated and efficient technology system better able to support both membership and advisors.
“While doing our due diligence, we checked references of all the broker dealers as well as reviewed their technology capabilities. We were impressed with CFS’s excellent references, as well as its commitment to advanced technologies like mobile scanning and home banking integration,” said Executive Vice President Craig Warren of Hawaii State FCU. “We attended the organization’s annual conference and could see the care management took in planning an educational and valuable event that would help grow our knowledge base as well as make our investment program a core component of our offerings. Furthermore, our integration has gone smoothly and we are certain it was the correct decision as we are already seeing steady improvement.”
The CFS investment program is led by producing program manager, David Kimura, along with two advisors, a sales assistant and a CFS regional program development manager. Hawaii State FCU plans to hire two additional advisors within the next year.
Credit unions interested in learning more about CFS investment programs can call 1-800-686-4724 or visit www.cusonet.com.
About CUSO Financial Services, L.P.
Established in 1997, CUSO Financial Services, L.P. (Member FINRA/SIPC) is headquartered in San Diego and works with more than 150 credit unions across the country. With branch offices located nationwide, 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 www.cusonet.com.