CUSO Financial Services Renews Agreement with Allegacy Federal Credit Union
Atria Wealth Solutions
March 5, 2019
SAN DIEGO – March 5, 2019 – CUSO Financial Services, L.P. (“CFS”) today announced that it has renewed a multi-year contract with Allegacy Federal Credit Union (“Allegacy”) of North Carolina, thanks to the broker-dealer’s award-winning offerings and results-driven support. The firm also announced record revenue in 2018 following contract renewals with more than a dozen of its largest credit unions representing nearly $36 billion of assets and 2.4 million members.
Allegacy boasts $1.47B in assets and more than 148,000 members. Since 2002 its investment program, working together with CFS, has achieved nearly five percent member penetration with $1.2B of assets under management (AUM), a nearly one-to-one ratio with its asset base.
“At Allegacy, we focus on helping our clients make good financial decisions. CFS is truly a partner, demonstrating a genuine concern for both our business success and our clients’ financial health,” said Allegacy Program Manager Steve Franke. “Its comprehensive product suite – from fixed income solutions to higher-end estate planning offerings, plus a sophisticated advisor platform and integrated client technology, allow us to customize investment programs for specific levels of client wealth.”
CFS offerings to credit unions are marked by a strong focus on credit union collaboration and innovative multi-channel and remote delivery technologies. CFS and its holding company, Atria Wealth Solutions, continue to enhance their award-winning paperless account management platform, dataVISION®, and integrated client portal, MyPortfolioView, earning praise from existing and new programs alike.
“Our mission is to help credit unions grow their investment programs by delivering industry-leading wealth management services to the members they serve. We focus on the long-term potential with each credit union program, investing time and resources in sharing the technology, best practices and tools to create a customized solution that meets business objectives,” said CUSO Financial Services President and CEO Valorie Seyfert. “We are pleased to continue our work with Allegacy and look forward to building and strengthening these bonds through technology leadership, industry expertise and rich portfolio offerings.”
About CUSO Financial Services, L.P.
CUSO Financial Services, L.P. and Sorrento Pacific Financial, LLC (Members FINRA/SIPC) are full-service broker-dealers and subsidiaries of Atria Wealth Solutions. Established in 1997, they specialize in placing investment programs inside credit unions and banks, providing customized investment and insurance solutions to over 200 financial institutions throughout the country, with $30+ billion in AUA. Headquartered in San Diego, with branch offices nationwide, both broker-dealers are SEC Registered Investment Advisors, with expertise in key areas including retirement services, wealth management, advisory solutions and insurance products for individuals and business customers. For more information, see cusonet.com, or LinkedIn at CUSO and SPF.
About Allegacy Federal Credit Union.
For 51 years, Allegacy has helped its members, employees and the communities it serves be their best by helping people make smart financial choices. By doing right, Allegacy has become one of the largest credit unions in North Carolina serving more than 148,000 members worldwide with over $1.4 billion in assets and an additional billion dollars in assets under management in its financial planning group. With roots in Winston Salem, Allegacy has 16 locations and eight high school student-run credit unions. Allegacy offers personal and business financial services to help a broad membership base including the employees, retirees and families of over 1,800 companies throughout the country be their best. To learn more, visit Allegacy.org.