North Island Credit Union returns to Broker-Dealer CUSO Financial Services to grow investment program

Personalized support and commitment to financial institution channel cited by management as deciding factors

SAN DIEGO, CA (June 3, 2015) — 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 North Island Credit Union as its broker-dealer to expand its investment program. This marks a return to CFS after a nine-year hiatus, during which time North Island CU worked with a different broker-dealer.

North Island CU management conducted due diligence on four different BDs before making the choice to return to CFS because of it its strength in the credit union industry, its superior technology offerings, and its commitment to aiding the growth of the program as a core offering of the financial institution. North Island’s investment program operates under a dual employee model, where the financial advisors are employed by the credit union but licensed, registered and supervised by the broker-dealer. The program re-launched with CFS in January 2015.

Founded in 1940 and headquartered in San Diego, North Island has its roots in working with Navy and civil service employees although it is now state-chartered as a community-based credit union, open to anyone who lives in San Diego County. North Island serves more than 76,000 members in 10 branches and holds $1.1 billion in assets. Investment program management indicates that CFS’s focus on personalized service matched its own commitment to members.

“We are proud of our long history of providing excellent member service; the loyalty of our members shows they appreciate it. Although CUSO Financial Services is a professionally-run organization and has great technology tools, the executive management is very accessible and understands the credit union model – it isn’t just about numbers,” says Carl Federici, vice president, investments and insurance for North Island. “They know we want continuity in our program, stable management, and new ideas on how to grow our base, who to hire that work best in this environment, and what new offerings are needed by our clients. It has been a pretty smooth transition.”

Management cited CFS’s dataVISION account management program, which automatically populates important information into all the forms in which it is needed, as a more intuitive and efficient electronic documentation program. North Island is in the process now of incorporating the CFS home banking integration capability, which seamlessly integrates investment information with the credit union’s online banking program, seeing it as a sophisticated and efficient technology system better able to support both membership and advisors. They are assessing the broker dealer’s mobile document capture applications for the convenience they offer to remote customers.

The CFS investment program is led by a producing program manager along with four additional advisors, five sales assistants, two full-time and two part-time administrative assistants and a CFS regional program development manager. North Island CU has set goals for growing the program by 20 percent within the next few years.

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

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 178 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

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