The breadth of investment service offerings at credit unions andhow to better serve their members in this area is the focus of anew study.
|The 2012-2013 Credit Union Investment Services BenchmarkingStudy 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 saleof investments and life insurance in credit unions, and identifiesbest industry practices, according to the firm. The analysis alsodraws on data from third-party broker dealers on 782 credit unionsoffering investment services.
|Kehrer Saltzman said it surveyed 45 credit unions to obtaindetailed data on the revenue, expenses and structure of theirinvestment services businesses.
|In addition, the study provides benchmarks for financial adviserproductivity, and revenue and net income penetration of the creditunion's member base, for institutions of different sizes andalternative delivery models.
|“Fully one-half of all personal financial assets in the U.S. areheld by credit union households, and credit unions are by far themost trusted and preferred provider of financial services to theirmembers,” Kehrer Saltzman said.
|The study aims to identify how well credit unions arepenetrating this opportunity and what they can do to improve theperformance of their investment services units, and better servetheir members, according to the firm.
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