Even though the $1.2 billion Anheuser-Busch Employees' Credit Union has had a fairly vibrant investment program since 1988, until recently it had to watch members interested in trust and estate planning take their business elsewhere because it did not offer those services.
"We always strived to be as full service as possible, and this was really the only service we had not offered," said Dave Osborn, president/CEO of the St. Louis-based ABECU. "We saw money leaving the credit union and going to other trust companies."
After talking to several local providers over the years and even contemplating an in-house trust services division, the credit union decided to partner with Tampa, Fla.-based MEMBERS Trust Co., the country's only CU-owned, nationally chartered trust company. Osborn said ABECU had been watching the firm's development since it launched in 2003. As the CU grew, it became large enough to support a representative with the dual roles of financial service planner and trust agent.
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