Looking to offer a full range of services, NE PA Community Federal Credit Union said it will provide investment and insurance to its more than 12,000 members.
The $100 million cooperative in Stroudsburg, Pa., has partnered with San Diego-based broker dealer and investment adviser CUSO Financial Services to develop a managed investment program.
The credit union said it worked with a consultant and strategic adviser to assess offering opportunities that would serve members by providing alternative investment options as the economy improves.
As a result, NE PA Community FCU chose a managed investment program model from CFS that includes investment advisers who are employed and managed by the CUSO.
"As a 53-year-old credit union, we have close relationships with many of our members who have done their banking with us for many years. It is important to us to continue our efforts to offer a full range of services to meet our members' financial needs," said Mark Filbert, president/CEO of NE PA Community FCU.
The credit union said it is a community-based cooperative that has been operating in the Pocono Mountain area of Stroudsburg since 1960 but has never before offered investment advice to its members.
"Our start-up experience has been great and our program has been well-received by members who have participated," Filbert said. "We are looking forward to growing the program as a core product offering and want our members to view the program as a trusted extension of the services they currently receive."
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