Bay View Federal Bank has tapped CoreLink Financial Inc. of Concord, Calif., to manage an investment-product sales program in 27 branches.
Under the arrangement, the $3 billion-asset thrift based in San Mateo, Calif., will offer mutual funds, annunities, and insurance products in its branches throughout the San Francisco bay area.
The thrift provides the investment services through its Money Care Inc. subsidiary.
Before selecting CoreLink, Bay View used another investment-products marketing company, American General Corp., to provide these services, according to CoreLink's chairman Richard Saafeld.
The thrift selected CoreLink because the company offers "the right combination of experience and technology," Bay View president John Brubaker said.
Bay View is the 25th financial institution to sign up with CoreLink, which was launched last year with the backing of Concord Financial Corp., New York, a top distributor of bank-managed mutual funds.
Though CoreLink serves banks with assets as high as $10 billion, its emphasis has been on those with $1 billion or less of assets.