News

StatementOne adds XCU Capital to Client Roster...

DECEMBER 5, 2001

LAWRENCEVILLE, NJ — StatementOne, the industry leader in enterprise financial data aggregation and performance reporting announced today that XCU Capital Corporation (XCU Capital) has signed an agreement to integrate StatementOne's proprietary, web-based data consolidation and performance reporting platform into their technology infrastructure.

Based in Carlsbad, California, XCU Capital is a subsidiary of Xerox Federal Credit Union, and was created in 1987 as a holding company for XCU Capital Corporation, Inc. and Focus Insurance Agency. XCU Capital now consists of credit union partners Affinity Federal Credit Union, Advancial Federal Credit Union, AltaOne Credit Union, Eli Lilly Federal Credit Union, Michigan Education Credit Union, MembersAlliance Credit Union, Northeast Credit Union, in addition to Xerox Federal Credit Union.

"Data consolidation will help our advisors and investors to obtain a more complete financial picture. This is crucial to helping our investors achieve their financial goals," says XCU Capital's Angela Espindola. She adds "We wanted to be able to provide a comprehensive financial view that required a minimal time commitment on the part of the advisor. By having their consolidated account data available virtually 'on-demand,' our advisors will now be able to spend less time gathering information and more time developing and analyzing investment strategies, enabling them to provide better and more timely advice."

"We're making this exciting service available to our clients as well as to our brokers," adds XCU Capital's President Mark Allen. He goes on to say "Our goal was to create a consolidated view of both the direct and clearing business for the account holders, to provide them with a more holistic view of their holdings. Our brokers, of course, will share in this benefit, and we believe that the end result will be greater overall success in the planning effort."

"We're very pleased to be working with XCU Capital. Utilizing some fairly sophisticated, proprietary data-cleansing techniques, we'll be providing them with daily, deep-level customer transactional data, through an easy-to-use web-based interface. Their advisors can use the consolidated data and performance reporting tools to craft strategies and to market the most suitable products and value-added services to their investor clients," says Greg Pacholski, StatementOne's president and chief operating officer.

Adds Pacholski, "Our own studies have shown us that advisors in a given firm who are using our software consistently outperform their non-user counterparts. The bottom line? StatementOne's consolidation solution provides a proven way in which financial institutions — and their advisors — can help boost their top-line revenue, while at the same time reducing administrative costs. It's really a win-win solution all around."

About XCU Capital Corporation...

XCU provides customized broker/dealer and insurance services to credit unions across the country. Created in 1987 by Xerox Federal Credit Union (XFCU) as a holding company for XCU Capital Corporation, Inc. and Focus Insurance Agency, XCU manages Full-Service programs at XFCU as well as AltaOne Credit Union, Eli Lilly Federal Credit Union, Michigan Education Credit Union, and Advancial Federal Credit Union.

In addition, XCU provides Back-Office-Only services to MembersAlliance Credit Union, Dearborn Schools Credit Union, Paragon Federal Credit Union, Hoosier Farm Bureau, and Rock Valley Credit Union.

XCU and Focus Insurance currently manage over $800 million in assets for more than 20,000 clients. XCU Capital was awarded the NACUSO 2000 Financial Services CUSO of the Year Award. NACUSO is the National Association of Credit Union Service Organizations

About StatementOne...

StatementOne currently manages account data for over $66 billion (U.S.) in assets, representing more than 17,000 financial advisors and over 1,450,000 investors and 3,300,000 individual accounts. They provide a secure, Web-based, turnkey service which delivers securities account aggregation, consolidated statements and performance reporting to branch managers, registered representatives and their clients (investors). Utilizing direct data-feeds from custodians and clearing houses, it maintains data accuracy and relationships without the aid of the labor-intensive manual data-gathering or data entry often required with other portfolio management solutions.

For more information contact StatementOne at marketing@statementone.com.