BCU Partners with CUSO Financial Services L.P.
VERNON HILLS, IL September 15, 2010 BCU (Baxter Credit Union) has entered into an agreement with CUSO Financial Services, L.P ., (CFS) a full-service broker dealer and SEC Registered Investment Adviser that provides customized investment and insurance solutions to the credit union industry, to provide broker/dealer services and back office support.
According to Tom Moore, Senior Vice President of Financial Products and Strategies, the BCU team liked CFSs ability to provide a full financial picture for members , integrating investment portfolio information with the Credit Unions own Online Banking and reporting capabilities. CFS works with several best-in-class credit unions that have high performing investment programs. That attracted us, as it will provide an opportunity to share ideas and learn from other top programs as well, says Moore. He adds, We are focused on developing a seamless and comprehensive financial services experience for our members and the platform offered by CFS will help bring that closer to a reality.
BCUs investment program currently serves its 33 branches in the U.S. and Puerto Rico with a team of eight financial advisors and four support staff. Working with CFS, BCU is planning to develop that staff to 10 -15 advisors within the next two to three years, as well as to add some additional key services that will deliver the best solutions for its diverse membership base.
Valorie Seyfert, president and CEO of CFS, says, We welcome BCU. The teams commitment to the ongoing success of the investment program has resulted in many achievements already. Knowing how both our organizations strive for continuous improvement, we believe that working together will benefit everyone members, credit union, advisors and CFS. We look forward to their active participation in our group and we know it will make us a better organization as well.
With over $1.4 Billion in assets, BCU currently serves more than 146,000 members throughout the United States and Puerto Rico. Formed in 1981 and headquartered in Vernon Hills, Illinois, BCU is a not-for-profit, member-owned credit union known for competitive rates, low fees, and state-of-the-art services. Membership is open to several prestigious companies around the country, as well as anyone who lives or works in select counties throughout the Chicagoland area.
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 125 credit union users, including 26 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. Credit unions interested in learning more about CFS programs can call 1-800-686-4724. For more information, call 858-530-4400 or visit www.cusonet.com.