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CUSO Financial Services distributes 4 million
SAN DIEGO (12/9/08--CUSO Financial Services LP (CFS) , a broker dealer and registered investment adviser, announced Monday it has developed its version of an “Economic Stimulus Package” to support its credit union clients during challenging financial times. CFS has distributed $4 million in retained earnings to its credit union limited partners, bringing the total distributions during 2008 to $8 million, CFS said. It is advising credit unions to reinvest the money into marketing, education and member support within their investment programs. “Credit unions, like all businesses, are feeling the pinch right now,” said Valorie Seyfert, CFS president/CEO. “It’s tempting for them to cut back on hiring advisers, marketing, traveling to educational conferences, and providing investment workshops for members.” However, the marketplace challenges present opportunities, said Seyfert, who added, “Now more than ever, when everyone else is pulling back, we are encouraging credit unions to step forward and reach out to their members to help them through these troubling times.” With the funds, “our partners and customers can do more marketing to raise awareness of the help they can offer their members and provide more education about navigating the volatile markets we are experiencing,” Seyfert said. Phase 2 of CFS’ stimulus package includes discounted products, services and incentives, which will be offered to all its credit union clients to help them maintain momentum despite the volatile economy.


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