ALM First Financial Advisors Bought By Mngmt. Team

Register now

Eastern Corporate FCU has sold its ALM First Financial Advisors unit to the subsidiary company's management team. ALM First President Emily Hollis along with Tom Manley and Angela Calvert have acquired the company, which has nearly $8 billion in credit union funds under management from approximately 100 credit union clients. EasCorp launched the CUSO in 1995 and said it will use the proceeds from the sale for research and development projects. "Throughout our history, EasCorp has focused on developing product and service innovations, such as ALM First, to satisfy credit unions' financial needs," said EasCorp CEO Jane Melchionda. "Now, it's time for EasCorp to innovate again and for ALM First to make use of opportunities a separate structure will permit." Hollis said ALM First will now also pursue areas outside the corporate credit union realm.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER