CUSO grabs $575M program of 2 recently merged credit unions
Bank Investment Consultant
November 6, 2017
Two California-based credit unions that consolidated their investment programs in anticipation of their merger in March have chosen CUSO Financial Services as broker-dealer for their joint $575 million program.
California Credit Union and North Island Federal Credit Union had both used CUSO as their third-party broker-dealer in the early 2000s but eventually left to join LPL’s platform. North Island returned to CUSO in 2015, while California CU remained with LPL until now.
The two credit unions have one program manager and nine financial advisors in Los Angeles and San Diego who collectively have $575 million in assets under management, according to CUSO. They also employ 11 additional staff, including one sales assistant and five advisor associates as part of their combined investment program.