As of 4-24-24
LAFCU Investment Services (LIS) Referral Disclosure
Offered by CUSO Financial Services
You are being referred to CUSO Financial Services, LP (“CFS”)1 the brokerage firm and Registered Investment Adviser that provides non-deposit investment products and services through CFS Financial Professionals at Los Angeles Federal Credit Union (LAFCU). CFS and LAFCU have entered into an agreement whereby LAFCU may refer potential investment clients to CFS. Below is some important information for you to understand about this endorsement.
- LAFCU is not a current investment client of CFS and is not affiliated with CFS.
- LAFCU will receive compensation from CFS if you establish an investment advisory account with CFS or engage CFS for financial planning services.
- The Credit Union will receive up to 40% net of fees, expenses and overhead of the investment advisory fee or financial planning fee that you pay to CFS. LAFCU will receive this fee for as long as you maintain an investment advisory relationship with CFS.
- You do not pay a higher investment advisory fee or financial planning fee because of the fee paid to the Credit Union.
- The Credit Union will receive up to 40% net of fees, expenses and overhead of the investment advisory fee or financial planning fee that you pay to CFS. LAFCU will receive this fee for as long as you maintain an investment advisory relationship with CFS.
- LAFCU has a conflict of interest because it has a financial incentive to recommend that you establish an investment advisory relationship with CFS.
- LAFCU may compensate certain credit union employees to refer potential clients to CFS for investment advisory services. This creates a conflict of interest because the LAFCU employee receives a $10 one-time payment per referral if the potential client attends a meeting with CFS. LAFCU employee receives the payment even if the potential client does not establish an investment advisory relationship with CFS.
LAFCU is not authorized to provide investment advice on behalf of CFS. For important information related to our fees and services please review the CFS Form
1Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Los Angeles Federal Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members. Representatives are registered to conduct securities business and licensed to conduct insurance business in limited states. Response to, or contact with residents of other states will only be made upon compliance with applicable licensing and registration requirements. The information in this website is for U.S. residents only and does not constitute an offer to sell, or a solicitation of an offer to purchase brokerage services to persons outside the United States.
