“We wanted a broker-dealer that could create a member experience based on credibility, trust, and advice,” Bill Smith, NEFCU senior retail delivery executive, said in a statement.
The credit union also cited CFS’s technology platforms and its ability to provide tools to allow members to manage their investment and insurance needs easier.
The investment program, which is labeled under the NEFCU Financial Group banner, is a managed program, meaning investment advisors are employed and managed by CFS. Two financial advisors have been hired since NEFCU’s switch to the new service provider.
NEFCU, a community-based credit union serving more than 85,000 members from six locations in northwestern Vermont, has more than $930 million in assets.