ATLANTA— CU Capital Market Solutions has restructured its Funding Division to accommodate demand among credit unions for the CUSO’s exclusive funding solutions.
Risk Analyst Dan Skehan has been promoted to VP Funding. Skehan joined the financial management CUSO last year after graduating from the University of Alabama, where he played wide receiver on the 2017 national championship football team.
“Since joining CMS, Dan has developed an extensive understanding of the needs of low-income designated credit unions,” said CMS CEO Lewis Lester. “He has an astute, analytical mind and is focused on getting results for our clients.”
In his new role, Dan will build and manage CMS’ proprietary non-member deposit program. He will also assist credit unions in issuing term-funded, DTC-eligible CDs through Fidelity Capital Markets, CMS’ institutional provider.
CMS offers its proprietary Non-Member Funding Program to low-income designated credit unions nationally. The NMFP provides qualified credit unions access to the $3 trillion institutional cash market via high-quality stable non-member deposits. In compliance with NCUA pass-through insurance regulations, credit unions can receive non-member funding, up to 20% of their current share balances, in a quick and easy manner.
DTC eligible CDs are available to LICUs with terms from 3 months to 10 years. These CDs provide credit unions with an efficient strategy to raise large amounts of non-member “term” deposits through the issuance of a single certificate.
To speak with Dan regarding either of these two funding programs, call 678-960-2917 or email email@example.com.
Funding Coordinator Lynn Brown will assist Skehan with CMS’ non-member deposit and CD programs. In particular, she will assist credit unions with structuring and funding accounts.
Brown brings diverse professional experience to CMS, working in the finance, non-profit and executive training industries. She worked in the Atlanta offices of Morgan Keegan & Company where, after passing the Series 7 exam, she was named Syndicate Coordinator and share allocator for all IPOs.
“Our growth-oriented funding strategies are very attractive to credit unions, and we’re confident that Dan, Lynn and the rest of our funding team will bring even more success to the credit union community,” Lester said.