Credit Union Investment Study Explores Best Practices
The breadth of investment service offerings at credit unions and how to better serve their members in this area is the focus of a new study.
The 2012-2013 Credit Union Investment Services Benchmarking Study was conducted by management consultant firm Kehrer Saltzman & Associates in Charlotte, N.C.
The annual study of credit union securities brokerages monitors trends in the sale of investments and life insurance in credit unions, and identifies best industry practices, according to the firm. The analysis also draws on data from third-party broker dealers on 782 credit unions offering investment services.
Kehrer Saltzman said it surveyed 45 credit unions to obtain detailed data on the revenue, expenses and structure of their investment services businesses.
In addition, the study provides benchmarks for financial adviser productivity, and revenue and net income penetration of the credit union's member base, for institutions of different sizes and alternative delivery models.
“Fully one-half of all personal financial assets in the U.S. are held by credit union households, and credit unions are by far the most trusted and preferred provider of financial services to their members,” Kehrer Saltzman said.
The study aims to identify how well credit unions are penetrating this opportunity and what they can do to improve the performance of their investment services units, and better serve their members, according to the firm.