Pentagon Federal Credit Union Moves Investment Program to CUSO Financial Services

Military credit union returns to its former broker dealer, implements new tech tools for members  

SAN DIEGO – Sept. 12, 2012CUSO 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 returned PenFed (Pentagon Federal Credit Union) to its roster of investment program clients. PenFed previously offered its investment program through CFS for eight years, but moved briefly to another broker dealer to support other business ventures. After just one and a half years, the credit union has chosen to move back to CFS for the management and support that brought its earlier successes.

Headquartered in Virginia, PenFed has 1.1 million members in the Air Force, Army, Coast Guard, Department of Homeland Security, Department of Defense, Veterans of Foreign Wars, and related companies and organizations. Its investment program, called PenFed Invest, previously held almost $250 million in assets under management with CFS; the program’s goal is to replenish those assets over the next 12-24 months.

PenFed Invest will become a managed program with CFS, meaning the program manager and investment advisors are employed and managed by CFS. They recently hired several advisors, with the goal to reach 10 advisors by year end.

“We have had a great track record with CFS. Previously under their management, PenFed Invest grew 700% in revenue,” said Shashi Vohra, EVP, The PenFed Group. “They have the right mix of knowledgeable management and staff, a variety of quality products, and the technology that makes us efficient. I know we will surpass our previous performance with them.”

PenFed Invest will be implementing two CFS online technology services for its members:

  • An online integrated account information platform that will allow members to view their PenFed banking and investment (brokerage and direct) account information through the credit unions’ online banking Website via single sign-on access.
  • The Financial Management Center, an online referral tool, which will provide members the opportunity to generate a high level view of their progress toward a wide range of investment goals as well as make an online connection with PenFed Invest advisors.

“PenFed serves a wide array of members across the nation and overseas, and they need fast, responsive and real hands-on program support,” said Valorie Seyfert, CFS president and CEO. “The CFS team is eager to implement smart and efficient strategies to take PenFed Invest to the next level of success. We’re glad to have them back on board.”

Credit unions interested in learning more about CFS 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 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

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