Corporate One and Multi-Bank Securities Form New Relationship
New relationship will expand securities services for credit unions and other institutional investors
COLUMBUS, Ohio – Corporate One Federal Credit Union and the Pleasant Ridge, Michigan broker/dealer, Multi-Bank Securities, Inc. announced they have formed a strategic relationship effective March 1, 2010 to provide investment products and other securities-related services to credit unions. The new relationship will allow Corporate One to expand its credit union securities offerings to include negotiable certificates of deposit and funding resources. In addition, it also offers credit unions free safekeeping through an independent third party, free portfolio analysis reports through BondEdge™, access to Multi-Bank’s fixed-income accounting tool, SunGard™, as well as an expanded lineup of investment products.
Corporate One currently has annual sales of more than $500 million and provides securities investment services to more than 160 credit union members nationwide.
“Valuable investment solutions are critical to our members’ success,” said Lee Butke, president/CEO of Corporate One. “Multi-Bank has been a trusted provider to credit unions for 25 years, and their expertise combined with Corporate One’s trained and licensed staff will create a powerful partnership that will help our members succeed.”
Multi-Bank Securities, Inc., (MBS) is a full service institutional broker/dealer that has served more than 2,500 credit unions since 1985. It is registered with the SEC and MSRB and is a member of FINRA and SIPC. MBS serves its clients by offering a wide range of fixed-income securities, and federally insured CD portfolio insurance analysis, financial institution acquisition and merger searches, BondEdge™ portfolio analysis reports at no cost, portfolio accounting services through SunGard™ and prime brokerage accounts. MBS also offers clients real-time account management online. It has developed its own innovative, proprietary Web platform that allows customers the ability to invest in negotiable CDs online. MBS has more than $12 billion in fixed-income securities under administration. In 2009, MBS was ranked 53rd on Inc. Magazine’s list of the “100 Fastest Growing Financial Services Companies.” For more information visit www.mbssecurities.com.
“Aligning with Corporate One, a financially well-positioned corporate credit union, brings together two very strong players in this market,” said David T. Maccagnone, CEO of Multi-Bank Securities, Inc. "We are excited to partner with Corporate One and provide their members with additional value-added tools and products."
About Corporate One
Corporate One Federal Credit Union is a leading wholesale financial services provider to nearly 800 of America’s credit unions. With almost $5 billion in assets under management, Corporate One offers liquidity, investments, and correspondent services including ATM/debit cards, share draft imaging, and depository and electronic payment services to credit unions across the United States. Corporate One established Primary Financial Company LLC., one of the most successful credit union service organizations (CUSOs) in the country. Now jointly owned by the corporate network, Primary Financial manages SimpliCD, a turnkey certificate of deposit program utilized by more than 4,500 credit unions throughout the U.S. Corporate One also developed and manages Alliance One, one of the nation’s largest non-network-specific ATM selective-surcharging groups. For more information, visit www.corporateone.coop.
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