ALBANY, N.Y.-MemberTrade Financial Group LLC, the wholly-owned CUSO of Empire Corporate that specializes in meeting the investments needs of credit unions has just turned the corner on its first year, said Lee Ann Palladino, president and CEO. "As a brand new entity, I'm happy with the way things have worked out. It's been very exciting," said Palladino. Membership levels in MemberTrade have really started to pick up, she said, adding that 1999 saw many CUs distracted by Y2k preparations and liquidity issues. Now, with lending up at CUs, many have chosen shorter-terms investments. "The brokerage business will always have an ebb and flow to it; it's predicated on the marketplace and money supply," said Palladino. "Other times, that will reverse. But there's no downside for us: credit unions are in business to make loans, and ultimately, that's good for us, too."
MemberTrade celebrates first anniversary
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