San Diego brokerage firm CUSO Financial Services LP has picked up a new client, a Los Angeles-based credit union that recently launched an investment services program.
University Credit Union, which has nearly 34,000 members in the Los Angeles area, chose CUSO Financial as its third-party broker-dealer for its varied offering of investment and insurance services, according to a statement from the San Diego company.
The program’s financial advisors will work at University Credit Union branches, but be employed and supervised by CUSO Financial, according to the San Diego-based firm.
University Credit Union has $570 million in assets, according to CUSO Financial. Seventy percent of its members are employees, alumni and students from Los Angeles-area educational institutions, including UCLA, Pepperdine, Mount St. Mary, Loyola Marymount, Loyola Law School and the Otis College of Art and Design.
The San Diego company doesn’t offer any proprietary products, according to the statement; a company representative is available to train credit union staff on the products offered.
“With our advanced technology systems, we are changing the way advisors do business and the way credit unions look at their investment programs,” said Valorie Seyfert, CEO of CUSO Financial, in the statement.
Through the partnership with CUSO Financial, the Los Angeles credit union aims to meet its members’ “increasingly complex financial needs,” according to the statement.
The San Diego company, established in 1997, says it serves more than 185 credit unions nationwide.
