MIDDLETOWN, Pa. (1/6/14)--Mid-Atlantic Corporate FCU announced the formation of ATON Financial Management, a credit union service organization to provide asset liability management (ALM) and related services to credit unions nationwide.
ATON, which is a nautical term meaning "aid to navigation," fits the CUSO's purpose, said Jay Murray, president/CEO of Mid-Atlantic Corporate.
"Increased compliance burden, tight margins, and a volatile economy all add up to more challenges for credit unions in navigating an effective course for balance sheet and asset performance," said Murray. "ATON brings the various ALM components together, making assistance available for both member and non-member credit unions looking for expertise in these areas."
ATON's services include balance-sheet management, asset-liability management, ALM modeling, policy review, training, due diligence and investment advisory services.
Mid-Atlantic Corporate FCU Senior Vice President and Chief Investment Officer Bruce Six will serve as CEO of ATON. Tim Sustak will serve as president. Sustak has held a number of finance-related positions at Mid-Atlantic, including investment director, accounting director, and assistant vice president of financial analysis at Mid-Atlantic.
Mid-Atlantic Corporate serves more than 800 credit unions, CUSOs, leagues and chapters in 16 states and Washington, D.C.