Balance Sheet Solutions LLC, a wholly owned CUSO of Alloya Corporate Federal Credit Union, has partnered with CU Investment Solutions LLC.
According to BSS, the alliance aims to realize significant operational efficiencies while continuing to support the investment needs of its credit union members.
Based in Warrenville, Ill., BSS, a broker-dealer and investment adviser, said it provided services to 850 credit unions over the past year with trades of marketable securities and jumbo certificates, ALM risk management, and advisory services.
Chartered in 1998, the Overland Park, Kan.-based ISI is a corporate credit union controlled brokerage firm that cleared over $10 billion in trades for credit unions during the past 12 months, the firm said. BSS said it cleared close to $3 billion in trades during the same time period.
By partnering with ISI, BSS said it is able to essentially outsource the back office compliance function along with the operation, trading and settlement functions.
The $1.9 billion Alloya is also based in Warrenville, Ill.