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Cuso Financial Reports Net Profits Growing

Cuso Financial Services LP, a San Diego broker-dealer of investment and insurance products sold through credit unions, said Aug. 20 that its total revenues are on the rise this year and net profits were 7 percent above what it made last year through the first six months.

Cuso Financial said it had net profits of $6 million on revenue of $79 million for 2006, up from net profits of $1.7 million on revenue of $47 million in 2003.

Founded in 1997, the firm is a limited partnership that shares its ownership with many of the more than 100 credit unions it sells its services through.

Last year, Cuso Financial ranked No. 38 on the list of Fastest Growing Private Companies produced by the San Diego Business Journal.

, Mike Allen

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