PenFed announced Thursday it will work through a CUNA Mutual Group subsidiary to offer wealth management services to members, expanding the offerings now available through its in-house service.
PenFed, the nation's second-largest credit union with $23 billion in assets, said it will work through CUNA Brokerage Services, a CUNA Mutual Group subsidiary that only serves credit unions. It generates about $145 million a year in revenue, and has about 430 advisors at 285 credit unions managing $25 billion in client assets.
“CUNA Mutual Group and PenFed share a common mission that centers around helping people plan for and secure their financial futures,” said Rob Comfort, president of CUNA Brokerage Services. “This new relationship will provide much broader access for PenFed members to critical financial advice that will help more members and their families.”
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
