With a team of 10 advisers helping to oversee a retailinvestment portfolio of $402 million, SchoolsFirst Federal CreditUnion places high value on being able to respond to membersquickly, seamlessly and efficiently.

Those standards are among the reasons the $9.4 billion SchoolsFirst in Santa Ana, Calif., is looking forward toreaping the benefits of CUNA Mutual Group’s multi-year,multi-million dollar investment in its broker-dealer, CUNA Brokerage Services Inc. to help credit unions betteraddress a growing need to serve members’ investment goals.

More than $15 million has been committed to CBSI forstate-of-the art technology, staffing, training and other resourcesfor members’ pre-retirement and retirement needs, CUNA Mutualrecently announced.

“For us, essentially, what we’ve seen over the last two years isadded support in terms of more resources from technologyimprovement to being able to get immediate assistance from theCBSI’s home office in Waverly, Iowa,” said Carol Silva, vicepresident of investment and retirement planning forSchoolsFirst.

CBSI said it has more than 250 credit union programs, 400advisers, with more than $2.3 billion in mutual fund, annuity andmanaged account sales, and more than $136 million in annualrevenue. In 2012, the affiliate of CUNA Mutual said it will paycredit unions more than $60 million in fee revenue.

A significant investment CBSI has already made is with Pershing,the company’s clearing broker-dealer, according to CUNA Mutual. Theresulting brokerage platform is providing benefits to advisers andmembers, including seamless, online brokerage account transactions,e-signature capabilities and mobile technology.

Investor Connection is CBSI’s newest member/investor-facingtechnology that serves as an investment relationship portal fromthe credit union’s website, CUNA Mutual said. Its goal is toshowcase the credit union’s financial adviser and gives membersaccess to their brokerage relationship online. The site also allowsaccess to account and investment information, research tools,calculators and financial articles.

Another technology enhancement CBSI is implementing is MEMBERSInscope, which is a tool that helps credit unions identifyhigh-value members based on specific, investment-centeredprofiles.

“Credit unions have told us one of their top needs isnoninterest income, especially during these times of tightmargins,” said Bob Trunzo, president of CUNA Mutual Insurance andFinancial. “Our $15 million investment in CBSI is one of the wayswe are addressing those needs. This investment will better positionCBSI to help credit unions meet the investment needs of members,while at the same time deepening relationships with members.”

Silva at SchoolsFirst said the credit union has been with CBSIsince 2007. Internally, the cooperative wanted to grow itsinvestment program but didn’t think it could do so with its vendorprior to then. Like some in the industry, SchoolsFirst continues tochip away at a common perception and is optimistic that CBSI’simprovements will make a significant dent.

“Credit unions are not top of mind when it comes to investments.They tend to think of us for more traditional products,” Silvasaid. “We’re adding 40,000 to 50,000 members so it’s definitely achallenge when it comes to the awareness component.”

Suneast Federal Credit Union knew that with the rapid changes intechnology, the $457 million cooperative in Aston, Pa., could neverkeep up with them on its own, said Jon Barrett, vice president ofmarket development and programs. Having the expertise and thewherewithal to deliver is what put CBSI ahead of othercompetitors.

“It was important to us to have a connection with a creditunion-linked company because the movement is important to us,”Barrett said. “It’s a pretty competitive world out there with a lotof choices. We want a partner that’s going to be with us down theroad.”

Suneast’s investment portfolio is creeping up towards $95million, Barrett said. Members who use the credit union’s servicerun the gamut from the young and old to retirees. The mantra hasalways been it’s never too early to have a conversation aboutretirement planning or saving for college.

“CBSI promised they would give us the tools we need to grow ourbusiness and they delivered MEMBERS Inscope,” Barrett said. “We’rediscovering new ways to use the information all the time. It’sexactly what we needed.”

Training is another investment focus of CBSI, according to JimMetz, president/CEO of CBSI.

In addition to its ongoing training, the company added theHonors Academy in 2011 through Cannon Financial Institute. It’sa year-long program of face-to-face, remote and self-study trainingthat helps advisers take their business to the next level.

The first Honors Academy graduates have achieved ayear-over-year average increase in revenue production of nearly 39%at their credit unions, Metz said. Two of SchoolsFirst’s advisershave gone through the academy, Silva pointed out.

New programs to train registered member servicesrepresentatives, investment program coordinators and salesassistants are also being developed, Metz said.

Mike Bunge recently rejoined CUNA Mutual in the new position of CBSI business developmentdirector. He led business and community development efforts at the$1.8 billion led Summit Credit Union in Madison, Wis., the companysaid.

“I’ve been in both chairs and understand the challenges creditunions face in growing noninterest income. I’m excited about CBSI’scommitment to partnering with credit unions. There’s greatpotential for credit unions in member investments,” Bungesaid.

Barrett said in addition to having a committed partnership,Suneast has the advantage of a board that recognizes the importanceof integrating an investment program.

“Culturally, everyone gets it. Many of the board members areclients and that helps,” Barrett said. “We’re here for the longterm and we see investments as a completion of the circle.”