Q: Why should I use CUNA Brokerage?
A: As a credit union member, you expect and deserve the best in financial services. CUNA Brokerage shares the credit union commitment to service by offering you a high quality brokerage program, designed with your needs in mind. Learn more about CUNA Brokerage.
Q: How can I link my financial institution account to my brokerage account?
A: Your Brokerage account can be set up to automatically sweep proceeds from sales of securities into your financial institution account, and to draw from your financial institution account to pay for purchases of securities. To set this up, simply complete the online ACH Application form.
Q: When can I place trades?
A: Online trades may be executed during the market hours of 8:30 a.m. - 3 p.m., CT. Online trades which are placed outside of market hours will be processed on the next market day.
Q: Are there any after hours services?
A: Online information services are available at all times. Your CUNA Brokerage account also includes access to MEMBERS Brokerline. This toll free service enables you to get your account balances and the latest quotes on securities 24 hours a day, 7 days a week.
Q: Do I need special software to trade online?
A: You simply need a web browser which is capable of secure transactions using SSL (Secure Socket Layer) technology. We recommend Internet Explorer.
Q: Can I place trades over the phone if I sign up for online trading?
A: Absolutely! Enabling online trading simply adds to the services provided through your CUNA Brokerage Account. You still get all of the other great services offered by CUNA Brokerage, including telephone access to a representative who can help you place trades.
Q: Will I earn interest on uninvested money in my account?
A: If you choose to settle your trades through your financial institution account, there will be no uninvested money within your brokerage account. Any uninvested money will remain in your financial institution account and earn the regular interest paid by that account. If you choose to settle trades through the CBSI Money Market Accounts within your Brokerage Account, uninvested funds will earn competitive money market rates, once a minimum threshold has been reached. To trigger interest payments, the balance in your CBSI Money Market Accounts must reach $500 in a nonqualified (regular) account, or $100 in a qualified (retirement) account. Once the threshold is reached, interest will be paid from that point on. You do not have to maintain a minimum balance.
Q: How can I pay for trades?
A: The Securities Exchange Commission (SEC) requires that all securities trades settle in three business days. In other words, you must pay for purchases, or deliver securities that have been sold, to your brokerage firm within three business days. CUNA Brokerage offers you a choice of three convenient settlement options to help meet this timeframe:
- Electronic Funds Transfer (EFT) handles the transfer of money automatically, on settlement day between your brokerage account and your financial institution account.
- CBSI Money Market Accounts provide three options on a regular brokerage accounts and allow you to earn competitive interest while you decide how to invest your funds.
- Direct Mail - Your check for payment must be sent to CUNA Brokerage via a method guaranteeing delivery within three business days, made payable to Pershing, our clearing company.
Q: Is my account protected?
A: Securities are held in custody for your account with the Pershing LLC. Each account is protected up to a total of $75 million. Of this total, the Securities Investor Protection Corporation (SIPC), provides $500,000.00 coverage, no more than $100,000.00 of which may be in cash. The remaining $74.5 million of coverage, on securities only is provided by Pershing through a commercial insurer. The account protection applies when SIPC member firm fail financially and are unable to meet obligations to securities customers, but does not protect against losses from the rise and fall in market value of investments.
What is the Disclosure of Order Routing Information?
CUNA Brokerage Services, Inc
2000 Heritage Way
Waverly, IA 50677-9202
Who does CUNA Brokerage Service Partner With?
CUNA Brokerage Services, Inc. receives payments from some of the companies whose products we sell. These payments are used to pay for training and education for our representatives as well as marketing support. We currently receive these payments from the companies listed below:
- Allianz Life Financial Services
- Franklin Templeton Investments
- Genworth Financial Wealth Management
- The Hartford
- Hines Real Estate Investments
- Jackson National Life Insurance Co.
- Nationwide Financial
- Oppenheimer Funds
- Pacific Life Funds
- Pacific Life Insurance Co.
- PIMCO Funds
- Prudential Financial, Inc.
- Putnam Investments
- Sun Life Financial
- Wells Real Estate Funds
These payments do not compromise the recommendations made by your representative. These payments are paid out of the product investment adviser’s or other product affiliate’s assets. The information on this site will periodically be updated. If you would like more information regarding these payments, please call 1-800-369-2862, extension 2019.
Every Credit Union handles internet trades differently, to see how your Credit Union handles them view their commission schedule