COLORADO SPRINGS, Colo. – It’s an ongoing effort to educate members about the need for trust services, but some estate attorneys and CPAs may also need to be informed about the new players on the block. “They’re accustomed to working with trust banks and that’s where they send their clients so the process involves educating them as well,” said Charles Emmer, president/CEO of $1.6 billion Ent Federal Credit Union. Ent is one of the charter members of Members Trust Company of Colorado, a CUSO formed in 2001 by six credit unions and the Colorado CU League. Contrast that with the number of bank mergers that often result in trust service divisions being moved out of state leaving customers “feeling strained and without that local touch and feel,” the opportunity for credit unions to fill that void opens, Emmer said. “People are looking for stability and consistency, a credit union that is local and accessible can send that message,” he said. “You can get a lot of volume in say, indirect lending with a particular dealer but an insurance vendor can come in, may not be satisfied with the arrangement and revenue can dry up overnight. That’s not true with trust business – once you have been named the successor/trustee, there’s a revenue stream you can count on year after year.” See related trust services coverage on pages 1-36 and page 24.

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