California Investment CUSO Builds Roster
Six more credit unions have partnered with CUSO Financial Services LP to build their managed and dual employee investment programs.
Joining the San Diego-based broker-dealer and investment adviser CFS in February were the $147 million TBA CU in Traverse City, Mich., and the $69 million Springfield Teachers CU in Springfield, Mass. Both opted for the managed program where program managers and investment advisers are employed and managed by CFS.
Four credit unions chose CFS’ dual employee program, in which both managers and advisers are employed by the credit unions but are licensed, registered and supervised for compliance through CFS: the $242 million Erie General Electric FCU in Erie, Pa., $168 million Mid American CU in Wichita, Kan., $264 million Texas Bay Area CU in Houston and $270 million Ohio University CU in Athens, Ohio
CFS said it now serves more than 200 financial institutions nationwide.