Search
 

CNBS hits revenue record

OVERLAND PARK, Kan. - Though it isn't releasing figures for competitive reasons, Corporate Network Brokerage Services, Inc. said that its year-to-date transaction revenue has exceeded its highest annual total in CNBS' 12-year existence. "To reach a record level of revenue is always an accomplishment. To do it less than two-thirds...

By Staff Writer | Updated on September 04, 2001

OVERLAND PARK, Kan. – Though it isn’t releasing figures for competitive reasons, Corporate Network Brokerage Services, Inc. said that its year-to-date transaction revenue has exceeded its highest annual total in CNBS’ 12-year existence. “To reach a record level of revenue is always an accomplishment. To do it less than two-thirds into the year is truly amazing, especially given that loans-to-shares remain relatively high,” said CNBS President/CEO Brian Hague. Fee income played a big role in the record. Hague noted that fees through July are already higher than the annual total for 1998, the first year of operation for CNBS as an independent company owned by corporate credit unions. Prior to that CNBS was owned by U.S. Central Credit Union. “Fees are also on pace to reach a record level by year-end,” Hague added. Hague also pointed to client growth as a factor, and liquidity levels at CUs. “The seasonality of credit union loan demand is such that the summer months are typically slow for investment activity,” he said. “That has not been the case this summer, as June and July revenues were the highest for those months in the firm’s history, and August revenue is already more than two times the highest previous level for that month.” CNBS is an NASD-member broker/dealer and SEC-registered investment adviser owned by nineteen corporate credit unions.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 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.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.