SOUTHFIELD, Mich. – The $2.6 billion CenCorp has partnered with U.S. Central's CU Investment Solutions, Inc. (ISI), a full-service broker/dealer, to offer marketable securities for its members. CenCorp can now offer securities such as agencies, collateralized mortgage obligations and corporate bonds. CenCorp has hired Jerry Hermann, a seasoned investment with more than 20 years of experience in fixed income and equity securities, to oversee the program. ISI has been picking up corporate CU clients steadily since its non-compete with credit union broker/dealer CNBS was ended a few years ago. Though the 10-year non-compete wasn't schedule to end for a few more years, the two sides came to an agreement to end it sooner. CNBS has been able to add natural person CU investors, something it never did before.
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