Kern Schools Credit Union Deploys SaveDaily Platform to Service Online Investors
SEAL BEACH, Calif., March 21, 2013 /PRNewswire/ — SaveDaily, Inc. (OTCBB: SAVY), a leading provider of low cost mutual fund investing platforms used by financial institutions, has been selected by Kern Schools Federal Credit Union (KSFCU) to provide self-directed investment options to its online users.
“Our goal is to offer a new way for our members to save and invest, particularly those members who don’t frequent our branch offices. These users want to begin a savings program that includes the option to invest, but most are investing smaller amounts than members who participate in our traditional broker-managed programs. We had to find a way to meet the needs of this new breed of investor, and the SaveDaily platform is the ideal solution,” states Larry Braley, Vice President, Wealth Management, Kern Schools Federal Credit Union.
Kern Schools Federal Credit Union is one of the top 100 credit unions in the country, with over 170,000 members and over $1.2b in assets. “At the end of the day, typical brokers can only handle so many accounts and they are not necessarily interested in servicing smaller investors,” Braley added. “The SaveDaily platform allows us to not only private-label the application so that our members feel a connection with our institution, but we can flag accounts when an investor reaches a certain account size threshold. Then our broker team can reach out to the member to talk about additional investment options. SaveDaily is the perfect way to create a long term investment relationship with our members.”
“KSFCU is addressing the needs of a group of members that many other institutions have not yet recognized,” said Greg Vacca, SaveDaily president. “Young investors and those members struggling to rebuild retirement accounts want a way to invest like large Wall Street players without having the funds to do so more quickly. With SaveDaily, the investments of smaller investors are aggregated into large funds managed by experienced professionals. KSFCU recognizes this value-add to its members, and soon its members will be reaping the benefits of this new program.”
KSFCU will initially offer mutual funds, IRAs and other traditional investment options via the SaveDaily platform, with the goal of eventually offering health savings account (hsa) alternatives through SaveDaily. KSFCU expects to roll out its new program in late spring of 2013.
About Kern Schools Federal Credit Union
Kern Schools Federal Credit Union was founded in 1938 and was granted a Federal Charter on April 19, 1940. Residents of Kern County are eligible for Membership and receive the benefits of an extensive loan program including home and auto, investment and insurance products, and a lifelong financial partner. With convenient locations in and around Bakersfield, Kern Schools Federal Credit Union has grown to over 170,000 Members to become the largest Member-owned financial institution in Kern County, California. For more information, visit www.ksfcu.org
SaveDaily Inc. (OTCBB: SAVY) is a leading provider of ultra-low cost, private label platform services that enable banks, brokerages and non-traditional financial service providers to profitably offer high-end financial services to anyone, regardless of income, account size, or activity levels. The company offers investments and record-keeping services to its intermediary partners as well as directly to clients through a variety of white-labeled interfaces. SaveDaily owns its proprietary financial services platform, which has been in production for about three years, to help financial intermediaries succeed in bringing suitable and affordable investment services to everyday savers and investors. SaveDaily, through its financial services partners, has the capability of making virtually all mutual funds available to its clients. SaveDaily conducts its business through its wholly-owned subsidiary, SaveDaily.com, Inc., which is headquartered in Seal Beach, California and is a Registered Investment Advisor with the Securities and Exchange Commission. For more information, visit www.savedaily.com.
Gregory Vacca, President
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