Nearly seven years ago, changes to Coastal Federal Credit Union's investment program were put in place to help build a stronger presence with members, many of whom had long-time ties to IBM, the cooperative's original sponsor.

From the creation of a financial advisory center dedicated solely to investment and trust services to a shift from a managed employee to a dual employee model, the $2 billion Coastal in Raleigh, N.C., grew its investment portfolio to $150 million in assets under management.

For many credit unions, that dollar amount would be celebrated given the reality that investment services continue to have a small penetration with members, according to industry statistics.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.