With a new broker-dealer and management model, South Carolina Federal Credit Union wanted to enhance its investment program that has been in place since 1996.
The $1.3 billion cooperative in North Charleston partnered with CUSO Financial Services LP, a San Diego-broker dealer and investment adviser, to make it happen.
"When reviewing broker dealers, it was important for us to partner with a collaborative firm that would seamlessly enhance our in-house investment services," Bonnie Ciuffo, South Carolina Federal investment program director said.
Recommended For You
She added, "We have already seen positive growth since beginning our relationship with CFS and we've quickly adopted several of their technology tools to enhance our offering to our members."
For instance, clients with South Carolina Federal Investment Solutions, the credit union's investment program, can use CFS' mobile app to send documents to their investment representative via their mobile phones, Ciuffo said.
The credit union's investment program will also operate under a managed model in which CFS employs and manages the program managers and investment advisors, according to the CUSO that serves more than 150 credit unions nationwide.
Two program managers along with three investment advisers, three sales assistants, three licensed branch employees and a CFS regional program development manager will oversee the investment program for South Carolina Federal more than 150,000 members.
© 2025 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.
