CFS Honors Top Performing Investment Programs

SAN DIEGO – CUSO Financial Services, one of the leading broker-dealers that provides investment and insurance programs to credit unions, recently recognized four top-performing credit unions at its annual conference here. CFS President Valorie Seyfert and COO Amy Beattie presented the 2002 Pacesetter Awards in recognition of the success of the individual credit union programs, as well as the accomplishments of the representatives who delivered “outstanding performances” during the past year. University FCU, Austin, Texas, and Program Manager Yung Tan, together with Executive Representative Phil Weinstein were awarded the “Rookie Program of the Year” for achieving the highest average production per representative for a new investment program in its first full year. UFCU began providing investment services in late 2001. Orange County Teachers FCU, Santa Ana, Calif., earned CFS’ Integrator Award for its “ability to create an environment of teamwork between the credit union’s traditional banking side and its financial services department,” said CFS. Program OCTFCU and Manager Sandra deChastain were recognized for merging the credit union’s investment and traditional retirement services together in to one unit. CFS presented its “Step Up to Success Award” to Ent FCU, Colorado Springs. Jim Moore, president of Ent’s CUSO and Program Manager David Wood were also awarded for producing the highest overall increase in total program production from the previous year. The credit union’s CUSO saw a more than 150% increase in program revenues from 2001. Addison Avenue Financial Partners, Rocklin, Calif., along with CUSO President/CEO Pete Snyder and Program Manager Rich Narez, received CFS’ “Second to None/Pinnacle Award” for the fifth consecutive year. The CUSO also recently received the Bank Investment Securities Association’s Program of the Year award. CFS also awarded Bill Thompson of Addison Avenue Financial Partners the 2002 “Representative of the Year” award for his outstanding performance in customer service and record-breaking productivity. He was also recently given top honors for 2002 by Bank Investment Consultant Magazine. For the year 2002, CFS posted $36 million in revenue, with a net profit of $1 million and a cash distribution of $500,000 to its credit union partners.