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EasCorp Forms New CUSO; Name Honors Massachusetts CU History

WOBURN, Mass. - EasCorp has formed a new CUSO that might sound like its name is derived from a tax form, but for the credit union faithful it's an historical name. The new CUSO is dubbed 1909 Financial Advisors, LLC. The name honors the year the first credit union law...

By Staff Writer | Updated on August 10, 2004

WOBURN, Mass. – EasCorp has formed a new CUSO that might sound like its name is derived from a tax form, but for the credit union faithful it’s an historical name. The new CUSO is dubbed 1909 Financial Advisors, LLC. The name honors the year the first credit union law was written in the year 1909 by Pierre Jay, Massachusetts’ Commissioner of Banks. “It was a little tribute to that fact. We’re headquartered here in Massachusetts and that’s where we got out start. It’s a good piece of credit union trivia,” said Alan Bernstein, EasCorp’s Senior Vice President. The CUSO will offer business planning and consulting as well as asset/liability management support. The goal is to help credit unions grow their business. Bernstein said the continued consolidation going on in the industry was part of the reason EasCorp decided to start 1909 Financial Advisors. “A lot of credit unions are going out of business. They’re choosing the merger route in most instances. We’re not making any judgment of that if it’s the best thing for the members. We think the remaining credit unions that want to remain independent will need to grow in order to do that,” said Bernstein. Credit unions do not have to be members of EasCorp to use the services.

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