Credit Union Investment Services, a CUSO of North Carolina’s State Employees’ Credit Union, has reached an asset milestone.
According to the $23 billion credit union in Raleigh, CUIS achieved the $100 million in large part through members’ average initial investments of $1,000. The CUSO recently opened the door for more members by lowering the initial investment amount to $250.
“We are thrilled that CUIS is an investment vehicle for many members who may not have had the opportunity to begin this process in the traditional market,” said Joan McCool, senior vice president of SECU’s individual retirement account and investment services department.
CUIS has 230 non-commissioned, multi-licensed representatives statewide, according to the credit union.
SECU serves nearly 1.7 million members.