Citing an effort to help credit unions boost non-interest income, CUNA Mutual Group announced Wednesday it will invest more than $25 million into its broker dealer service CUNA Brokerage Service, Inc. for additional staff, training and resources.
"Credit unions have told us one of their top needs is generating noninterest income, especially during times of tight margins," Robert N. Trunzo, president/CEO of CUNA Mutual Group said. "Our $25 million investment in CBSI is one of the ways we are addressing those needs. We will better position CBSI to help credit unions enhance their investment services and deepen member relationships."
CUNA Mutual Group's CBSI is the leading broker-dealer serving credit unions with more than 250 credit union programs, 400 financial advisors and $3 billion in mutual fund, annuity and managed account sales, the company said.
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
Already have an account? Sign In Now
© 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.
