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Minnesota CUs Eyeing Mid-States Corporate's Broker/Dealer

WARRENVILLE, Ill. -Just one month after the merger with Mid-States, former members of Minnesota Corporate Federal Credit Union are completing the necessary steps to begin working with Mid-States Investment Solutions, LLC, the wholly owned Broker/Dealer CUSO of Mid-States Corporate Federal Credit Union. According to Mid-States Investment Solutions' President, Tom Moore,...

By Staff Writer | Updated on February 17, 2004

WARRENVILLE, Ill. -Just one month after the merger with Mid-States, former members of Minnesota Corporate Federal Credit Union are completing the necessary steps to begin working with Mid-States Investment Solutions, LLC, the wholly owned Broker/Dealer CUSO of Mid-States Corporate Federal Credit Union. According to Mid-States Investment Solutions’ President, Tom Moore, six Minnesota members have completed the contracts to begin working with the broker/dealer. “Given the process of completing the required documents and obtaining board of directors’ approval, we are very pleased with the number of credit unions that have submitted their paperwork.” Moore added, “The quick response by the credit unions in Minnesota to the range of products and services available through this CUSO is a clear indication that we have positioned ourselves well for this market.” Mid-States Investment Solutions was granted authority to open for business by NASD in July of 2003. Since that time, the broker/dealer has built its staff and expanded its product offerings. The addition of SimpliCD and Internet-based A/L Manager, has given the broker/dealer a range of products to meet the needs of credit unions of all asset sizes. The merger between Mid-States and Minnesota Corporate has also provided the broker/dealer with an opportunity to expand its resources with the addition of three investment sales staff from the Minnesota Corporate. The broker/dealer will use the expertise of this group to focus its SimpliCD sales activities in the Eagan, MN office. According to Mary Westberg, Senior Director of Sales for Investment Solutions in Minnesota, “Our experience with this product and knowledge of the Midwestern credit unions made Eagan a logical choice for SimpliCD operations.”

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