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Conference outlines investment services benchmarking trends
LAS VEGAS (5/14/09)--A speaker at the National Association of Credit Union Service Organizations (NACUSO) conference outlined investment services benchmarking trends May 5 in Las Vegas. Pete Snyder, president, Snyder Consulting Solutions LLC, presented results from the “Callahan/SCS 2009 Retail Investment Services Benchmarking Study for Credit Unions,” which will be published later this month. The data provided by participating broker dealers suggest that the credit union retail investment service channel continues to steadily grow. Snyder cited institutional metrics that are key indicators of growth:
* The number of credit unions that provide their members with “face-to-face” retail investment services grew by 3.64% to 968 from 938 between 2005 and 2008. Given that the total number of credit unions continues to shrink as the result of merger activity, the report suggests that the minimal growth factor of 3.64% includes some reductions in programs as a result of merger activity, he said. * Representatives that serve credit union members grew to 3,051 by the end of 2008 from 1,902 in 2005. * Total gross dealer concessions generated in 2005 were $289 million and grew to $352 million by year-end 2008. * The average gross dealer concessions per credit union increased to $363,894 by year-end 2008 from $308,375 in 2005.
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