Credit Union Financial Network and CU Insurance Alliance Partner to Create Economies of Scale

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CUFN and CUIA will be working together to provide cost-saving services to credit unions throughout the country.

Credit Union Financial Network, LLC, (CUFN) has recently invested in CU Insurance Alliance, LLC (CUIA), bringing together two growing Credit Union Service Organizations (CUSOs). This partnership allows the two organizations to leverage their relationships and offer services to credit unions at more competitive pricing.

“CUFN and CUIA have very similar business strategies and complement each other very well,” says John Harris, CEO of CUIA. Both organizations are multi–credit union owned CUSO’s which provide investment and insurance products and services to the credit union industry. While CUIA is focused on insurance operations, CUFN’s expertise is in investment and estate planning solutions. By partnering, the two companies become a larger purchaser on behalf of credit unions and can continue to drive down expenses associated with the products they offer.

One example of the buying power leverage is in the employee benefits area. A subsidiary of CUIA, CU Benefits Alliance, has created a credit union employee benefits program which has reduced the benefits cost for member credit unions by an average of 23%. Some credit unions have saved more than $1 million since joining the benefits coalition. “It’s all about working together and working smarter,” says Harris.

With this partnership, both CUSOs are looking to grow into new markets and serve more credit unions. “We exist to help credit unions earn more income and save costs through compliance and sales management of the Financial Planning / Wealth Management program,” says Mike Prior, CEO of CUFN. “Our focus on recruiting quality advisors to provide quality advice has been well received by the CEOs, CFOs, and Branch Staff of the credit unions we have helped upgrade”.

CUFN is a strategic partner for credit unions wishing to bring value-added services to its members and employees. Along with leadership in investment program management, CUFN offers non-traditional services such as helping credit unions improve their ROA on the Credit Union’s investment portfolio. They offer support and assistance in the recruiting of a financial advisor, developing and implementation of marketing strategies, employee branch training, community and SEG financial education workshops, as well as managing all aspects of the broker/dealer relationship.

CUIA and CU Benefits Alliance are multi–credit union owned insurance CUSOs designed to meet the insurance, risk management and fee income needs of investor credit unions and their affiliated CUSOs. The Alliance is designed to provide both knowledge and channels for dramatic improvement in the insurance and investment relationships maintained by the credit union.

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John Harris
CU Benefits Alliance
503-779-1816
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Mike Prior
Credit Union Financial Network
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