HARRISBURG, Pa. — The $2.9 billion PSECU's investment program has been honored with the Award of Excellence for Program of the Year among community-based financial institutions by the Bank Insurance & Securities Association, making it only the third credit union in the award's seven-year history to receive the recognition.
The Award of Excellence for Program of the Year is awarded to a bank or credit union securities, insurance or investment program that exemplifies industry excellence. Awards are given in three categories: large national and regional institutions; regional institutions and community-based financial institutions. Program superiority is assessed on the criteria of productivity, marketing initiatives, integration initiatives, product innovation, technology initiatives, and education or compliance initiatives.
BISA said "PSECU has demonstrated a 'can do' approach to creatively evolving ways to provide fact-to-face services in an investment program that is embedded within a credit union that provides virtually branchless delivery of traditional deposit and loan services."
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PSECU's investment program is managed through CUSO Financial Services, LP, a broker-dealer and registered investment advisory firm. Investment programs at the three credit unions–PSECU, Wescom CU and Addison Avenue FCU–that have won the BISA awards, were all managed by CFS at the time of receiving the honor.
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