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XCU Capital Lacked Tech and Resources

SAN DIEGO -- Ask any of the principals affiliated with XCU Capital Corp., a credit union homegrown broker-dealer and investment advisory firm, for the

By Michelle A. Samaad | Updated on May 27, 2008

SAN DIEGO — Ask any of the principals affiliated with XCU Capital Corp., a credit union homegrown broker-dealer and investment advisory firm, for the factors that led to its demise and most agree on one reality: lack of scope and resources to compete.

After a 20-year run, XCU Capital slipped under the radar and into obscurity when in August 2007 it was acquired for $3.62 million by LPL Financial Corp., an independent broker-dealer giant with more than 800 clients and $235 billion in assets under management (CU Times, May 7, 2008). All but one of its 24 credit unions made the transition over to LPL convinced that aligning with the investment conglomerate would not only bring more technology, products and services but a proven track record of serving the movement with a current roster of more than 200 credit union clients.

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