With members such as NASA scientists, Langley Federal CreditUnion started looking at expanding its 16-year-old investmentprogram in ways that would continue to meet the needs of its uniquemember base.

“The main thing is we wanted to get more into life insurance,financial planning and advisory services,” said Victor Puliafico,president of Langley Financial Services LLC, the wholly owned CUSOof the $1.5 billion Langley FCU in Newport News, Va.

Previously partnered with a broker-dealer-”We went as far as wecould with them”-Puliafico said Langley started looking at otherpotential partners in early 2010. Seven broker-dealers made thecut, including the incumbent, before Langley went with PrimeVestFinancial Services Inc., a St. Cloud, Minn.-based firm that servesnearly 600 financial institutions including 22 credit unions.

Puliafico said it was PrimeVest's track record of working withfinancial institutions, its technology platform and its advisoryservices that sealed the deal. Having that range means being ableto appeal to Langley's diverse membership, which includes everyonefrom NASA scientists to blue collar workers. Founded in 1936 by theNational Advisory Committee for Aeronautics, the common bondcooperative now serves more than 170,000 members.

Langley Financial now oversees assets in the $125 million to$250 million range with another $20 million in advisory assets,Puliafico said. In 2010, the CUSO experienced 50% growth in itsinvestment program in part because of a staff referral program andmore marketing. There has also been an increase in thrift savingsand IRA rollovers.

“Many people were burned in 2008,” Puliafico said when askedwhat were members' most pressing concerns in a turbulent economy.“They want to be able to have enough assets to retire. They want tominimize risk.”

Member education seminars on topics such as retirement, socialsecurity and investing for women are conducted at least once aquarter. Branch signage had pictures of the investmentrepresentatives so that members could put a name with a face,Puliafico said. Employees who make the most referrals are honoredeach month in a write-up on the credit union's intranet thatfeatures their photo and how they were able to help members.

“The staff is the first line of communication to members. We'vemade an effort to make sure they are better educated to makereferrals,” Puliafico said.

Momentum is building to establish more relationships with creditunions, said Catherine Bonneau, president/CEO of PrimeVest. Thefirm signed three top-100 credit unions in the fourth quarter of2010 and could potentially double its 22 client listing based onits current pipeline, she added.