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Patelco Credit Union aligns with CUSO Financial Services for investment program

SAN FRANCISCO - Patelco Credit Union recently signed on with CUSO Financial Services, L.P. (CFS) for investment reporting, account maintenance and support and execution of trades. CFS will also provide consulting assistance for the recruitment of licensed financial representatives and for NASD compliance on Patelco's behalf. Scott Waite, Patelco's senior...

By Michelle A. Samaad | Updated on October 01, 2002

SAN FRANCISCO – Patelco Credit Union recently signed on with CUSO Financial Services, L.P. (CFS) for investment reporting, account maintenance and support and execution of trades. CFS will also provide consulting assistance for the recruitment of licensed financial representatives and for NASD compliance on Patelco’s behalf. Scott Waite, Patelco’s senior vice president and CFO said the partnership allows for “complete integration of our full-service advisory and online trading capabilities.” The services are offered through Patelco’s wholly-owned CUSO, Patelcorp Service Organization, Inc. with two registered representatives to conduct business under CFS. Waite said about 3% of Patelco’s nearly 200,000 member base utilize the investment services which he hopes to increase now that the CFS conversion is complete. Patelco is the eleventh largest credit union in the nation with $2.8 billion in assets. A full-service broker-dealer and registered investment adviser, CFS serves more than 65 credit unions. -

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