Commonwealth credit union services

Business Editors

ALEXANDRIA, Va.--(BUSINESS WIRE)--May 17, 2001

UniTrust Financial Services, working with its seven credit union partners, is today introduced as an innovative one-stop personal financial management planning service available at affiliated credit unions. The new service will allow customers to sit down for one-on-one financial management help and access the latest in on-line investment services through the credit union they know and trust.

"Today, we introduce a full lineup of investment, insurance, and financial planning services to more than 200,000 area credit union members," said Chris Langley, CEO of UniTrust. "For members, we offer something never before available at their credit union: a complete financial solution located at their credit union."

"We offer investment management with a difference: the personalized, member-focused service people have come to expect from their credit union along with professional expertise previously reserved for only the fortunate few," added John Blair, chairman of the board of managers of UniTrust Financial Services and president of one of the affiliated credit unions, CommonWealth One Federal Credit Union (FCU).

UniTrust Financial Services was formed in October 2000 to give credit union members a chance to meet all their financial service needs at their credit union. Through the efforts of the seven partnering credit unions (CommonWealth One FCU; Department of Veterans Affairs FCU; Arlington Virginia FCU; Transportation FCU; Genesis FCU; Fairfax County Employees CU; and Fort Belvoir FCU), more than 200,000 credit union members in the DC-Northern Virginia area no longer need to go elsewhere to meet investment and insurance needs.

The company has formed a strategic partnership with CUNA Mutual Group (CMG), a nationwide provider of high quality investment, insurance and advisory services available exclusively to credit union members. From providing competitively-priced products such as mutual funds, annuities and insurance, to supporting UniTrust with licensed financial advisors that provide assistance, expertise and guidance to credit union members, CMG and UniTrust are uniquely positioned to meet the personal financial management needs of area credit union members.

In addition, credit union members who choose to manage their assets with the help of UniTrust and CMG also have available to them the latest in on-line financial management tools. Through a relationship with Foliofn, an on-line financial services pioneer, credit union members can access a unique and affordable investment service at www.unitrustfinancial.com.

And, unlike other brokerage services and banks, UniTrust services are available to all members regardless of their net worth. "In a sense, we've brought to Main Street what once was only offered on Wall Street," said Blair.

UniTrust's services will be unveiled to credit union members at a panel seminar moderated by WTOP Radio's Bob Madigan this evening at 7 p.m. The invited credit union members will have a chance to ask questions of some leading financial professionals (call for panelist bios) and hear a review of current financial conditions and forecasts. Credit union members will also hear how they can better utilize UniTrust and become more acquainted with their service.

"Whether they're looking ahead toward retirement, charting their children's education, or seeking ways to minimize their taxes, UniTrust can provide the solutions to help them create a personal financial program that makes sense," said Langley. "One phone call to UniTrust is now all it takes for members to gain access to a host of investment and insurance options never before available to them at their credit union."