X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TAMPA, Fla. – A little more than a year after its launch, MEMBERS Trust Co. is poised to continue its reach to more credit unions in 2005. The year-old, nationally-chartered trust company is expected to open seven agency offices next year and establish 50 representative offices. Credit unions can choose to offer trust services through an agency office, which establishes a trust presence in a particular state and requires a trust officer to be physically located at a credit union. Or, they can opt for a representative office, which is an extension of the credit union’s financial services program and does not require hiring a trust officer, but instead utilizes the services of specially trained representatives to consult and make recommendations for trust services. MEMBERS Trust, which currently has 28 credit union clients, 23 owners and $74 million in assets under management, is also looking to form partnerships with retail brokers and bring trust services to smaller credit unions similar to a shared branch arrangement. Next year may also see alliances with member business services operations, according to Tom Walker, MEMBERS Trust, president/CEO and John Henry, senior vice president of CUNA Mutual and CEO of MEMBERS Development Co.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.